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Sep 30, 2024
Axsome Q3 2024 Earnings Report
Axsome demonstrated strong commercial performance and advanced its late-stage development pipeline.
Key Takeaways
Axsome Therapeutics reported a total net product revenue of $104.8 million for Q3 2024, representing an 81% year-over-year growth. The company is also advancing its pipeline with multiple Phase 3 trial results expected soon and an NDA submission planned.
Total net product revenue for Q3 2024 was $104.8 million, an 81% increase year-over-year.
Auvelity net product sales were $80.4 million, representing a 113% year-over-year growth.
Sunosi net product revenue was $24.4 million, a 21% increase year-over-year.
NDA resubmission for AXS-07 for migraine was accepted by the FDA with a PDUFA goal date of January 31, 2025.
Axsome
Axsome
Axsome Revenue by Segment
Revenue by Segment
AUVELITY Revenue
CapyFin.comSUNOSI Revenue
CapyFin.com Forward Guidance
Axsome anticipates several clinical catalysts and regulatory milestones. The company believes that its current cash is sufficient to fund anticipated operations into cash flow positivity.
Positive Outlook
- NDA submission for AXS-14 for fibromyalgia anticipated in November 2024.
- PDUFA goal date for AXS-07 for migraine is January 31, 2025.
- Topline results of ADVANCE-2 and ACCORD-2 Phase 3 trials of AXS-05 in Alzheimer’s disease agitation expected in Q4 2024.
- Topline results of ENCORE Phase 3 trial of AXS-12 in narcolepsy expected in Q4 2024.
- Second expansion of Auvelity psychiatry sales force planned for 1Q 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income