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Sep 30, 2020
Axsome Q3 2020 Earnings Report
Axsome reported financial results for Q3 2020 and provided a business update.
Key Takeaways
Axsome Therapeutics reported a net loss of $22.9 million, or $(0.61) per share, for the third quarter ended September 30, 2020. The company's cash reserves totaled $202.4 million as of September 30, 2020, and the company believes that its cash along with committed capital will be sufficient to fund operations into at least 2024.
NDA submissions for AXS-05 in depression expected in January 2021, and for AXS-07 in migraine expected in 1Q 2021.
Efficacy results from three Phase 2 open-label efficacy trials of AXS-05 in TRD, antidepressant unresponsive MDD, and suicidal ideation, on track for 4Q 2020.
Phase 3 trial of AXS-05 in Alzheimer’s disease agitation on track for initiation in 4Q 2020.
Axsome secured a $225 million term loan facility with Hercules Capital.
Forward Guidance
Axsome believes that its cash at September 30, 2020 along with the committed capital from Hercules facility will be sufficient to fund the Company’s anticipated operations, based on its current operating plans, into at least 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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