Axsome Q2 2024 Earnings Report
Key Takeaways
Axsome Therapeutics reported a strong second quarter in 2024, with total net product revenue reaching $87.2 million, representing an 87% year-over-year growth. The company is advancing its pipeline with NDA resubmission for AXS-07 and plans to submit NDA for AXS-14.
Total net product revenue reached $87.2 million, an 87% increase year-over-year.
Auvelity net product sales were $65.0 million, representing a 135% year-over-year growth.
Sunosi net product revenue was $22.1 million, a 16% increase year-over-year.
NDA for AXS-07 in migraine has been resubmitted.
Axsome
Axsome
Axsome Revenue by Segment
Forward Guidance
Axsome believes that its current cash is sufficient to fund anticipated operations into cash flow positivity, based on the current operating plan.
Positive Outlook
- NDA submission for AXS-14 in fibromyalgia expected in Q3 2024
- Topline results from ADVANCE-2 Phase 3 trial of AXS-05 in Alzheimer’s disease agitation anticipated 2H 2024
- Topline results from ACCORD-2 Phase 3 trial of AXS-05 in Alzheimer's disease agitation anticipated 2H 2024
- Topline results from FOCUS Phase 3 trial of solriamfetol in ADHD anticipated 2H 2024
- Pivotal Phase 2/3 trial of AXS-05 in smoking cessation, initiation (2024)
Revenue & Expenses
Visualization of income flow from segment revenue to net income