Axsome Q3 2023 Earnings Report
Key Takeaways
Axsome Therapeutics reported a total product revenue of $57.8 million for Q3 2023, a 244% increase year-over-year, driven by strong performances from Auvelity and Sunosi. The company is progressing its clinical programs, with multiple potential NDA submissions and pivotal trial readouts expected over the next 12 months.
Total product revenue for Q3 2023 was $57.8 million, representing 244% year-over-year growth.
Auvelity net product sales were $37.7 million, a 36% increase sequentially.
Sunosi net product revenue was $20.1 million, representing 20% year-over-year growth.
The company is on track to complete enrollment in the SYMPHONY trial of AXS-12 in narcolepsy in Q4 2023.
Axsome
Axsome
Forward Guidance
Axsome believes that its current cash is sufficient to fund anticipated operations into cash flow positivity, based on the current operating plan.