Axsome Q3 2022 Earnings Report
Key Takeaways
Axsome Therapeutics reported total revenues of $16.8 million for the third quarter of 2022, driven by U.S. net sales of Sunosi. The company's net loss was $44.8 million, or $(1.07) per share. The company believes that its current cash, along with the remaining committed capital from the $300 million term loan facility, is sufficient to fund anticipated operations into 2025.
Total revenues were $16.8 million for the third quarter of 2022, compared to none for the 2021 comparable period.
U.S. net sales of Sunosi were $16.8 million for the third quarter of 2022.
Net loss was $44.8 million, or $(1.07) per share, for the third quarter of 2022, compared to a net loss of $34.9 million, or $(0.93) per share, for the comparable period in 2021.
Cash and cash equivalents totaled $227.5 million at September 30, 2022, compared to $86.5 million at December 31, 2021.
Axsome
Axsome
Forward Guidance
Axsome believes that its current cash, along with the remaining committed capital from the $300 million term loan facility, is sufficient to fund anticipated operations into 2025, based on the current operating plan, which includes the continued commercialization of Sunosi and Auvelity. Axsome expects that its operating expenses will increase year over year as the Company commercializes Sunosi and Auvelity and continues to advance its pipeline.