Ades sees transaction close in 4Q

Ades sees transaction close in 4Q

Axsome Therapeutics, Inc. (NASDAQ: AXSM) has reported robust financial results for the second quarter of 2025, showcasing significant growth in its product revenue and sales. The company's total net product revenue for the period was $150.0 million, representing a 72% year-over-year (YoY) increase and a 24% sequential growth compared to the first quarter of 2025 [1].

Key highlights include:
- AUVELITY® net product sales reached $119.6 million, up 84% YoY and 24% sequentially.
- SUNOSI® net product revenue was $30.0 million, growing 35% YoY and 19% sequentially.
- SYMBRAVO® launched on June 10, 2025, and had net product sales of $0.4 million in the second quarter of 2025.

The company's commercial pipeline expansion is notable, with AUVELITY market access expanding by 28 million new covered lives in the commercial channel. Additionally, a first group purchasing organization (GPO) contract for SYMBRAVO was signed, and a supplemental New Drug Application (sNDA) submission for AXS-05 in Alzheimer’s disease agitation is on track for the third quarter of 2025 [1].

Financial Highlights:
- Total cost of revenue was $13.4 million, up from $8.1 million in the comparable period of 2024.
- Research and development (R&D) expenses were $49.5 million, down slightly from $49.9 million in the same period in 2024.
- Selling, general, and administrative (SG&A) expenses were $130.3 million, up from $103.6 million in the comparable period of 2024.

The company reported a net loss of $48.0 million for the second quarter of 2025, compared to a net loss of $79.3 million in the same period in 2024. The net loss includes $24.6 million of stock-based compensation expense. Cash and cash equivalents totaled $303.0 million at June 30, 2025, compared to $315.4 million at December 31, 2024 [1].

Axsome Therapeutics believes that its current cash is sufficient to fund anticipated operations into cash flow positivity based on the current operating plan. The company aims to submit new drug applications to the FDA for AXS-12 in narcolepsy in the fourth quarter of 2025, which is expected to close the transaction for Ades.

References:
[1] https://www.globenewswire.com/news-release/2025/08/04/3126430/33090/en/Axsome-Therapeutics-Reports-Second-Quarter-2025-Financial-Results-and-Provides-Business-Update.html