What were the key takeaways from Axsome Therapeutics’s earnings call?

What is Axsome Therapeutics's gross profit margin?

What does Axsome Therapeutics do and what are its main business segments?

Did Axsome Therapeutics beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Axsome Therapeutics year over year?

What were the key takeaways from Axsome Therapeutics's earnings call?

What is Axsome Therapeutics's latest dividend and current dividend yield?

What guidance did Axsome Therapeutics's management provide for the next earnings period?

- **Revenue Growth**: Q3 2025 revenue of $171 million (+63% YoY), driven by AUVELITY (+69% YoY), SUNOSI (+35% YoY), and SYMBRAVO launch.
- **Pipeline Momentum**: AXS-05 (Alzheimer's agitation) NDA submission, AXS-12 narcolepsy NDA expected in Q4, and AXS-14 fibromyalgia Phase III trial initiation.
- **Commercial Strength**: AUVELITY with 46,000 prescribers and 85% payer coverage, SYMBRAVO with 5,000+ prescriptions in first quarter.
- **Financial Health**: Net loss of $47.2 million (-28% YoY), $325 million cash, and plans for cash flow positivity.

**【CEO Summary Section】**
- Total revenue reached $171 million in Q3 2025, up 63% YoY, driven by strong performance across AUVELITY, SUNOSI, and SYMBRAVO.
- AUVELITY net product sales grew 69% YoY to $136.1 million, with 209,000 prescriptions (+46% YoY) and 46,000 unique prescribers.
- SUNOSI net product sales increased 35% YoY to $32.8 million, with 53,000 prescriptions (+12% YoY).
- SYMBRAVO generated $2.1 million in first-quarter sales, with over 5,000 prescriptions and 3,300 new patients.
- Pipeline highlights include AXS-05 (Alzheimer's agitation) NDA submission, AXS-12 narcolepsy NDA expected in Q4, and AXS-14 fibromyalgia Phase III launch by year-end.

**【CFO Financial Commentary】**
- Q3 net loss was $47.2 million (-28% YoY), with $325.3 million in cash, sufficient for operations and near-term growth.
- AUVELITY and SUNOSI gross-to-net (GTN) discounts were in the high 40% range, expected to rise to low 50% in Q4.
- R&D expenses decreased 11% YoY to $40.2 million, while SG&A rose 57% YoY to $150.2 million due to commercial expansion and SYMBRAVO launch.

**【Q&A Highlights】**
- **AUVELITY Primary Care Growth**: 1/3 of prescribers are primary care clinicians, with NBRx up 50% YoY and 85% payer coverage.
- **SYMBRAVO Launch Strategy**: Focused on 150 headache centers, 5,000+ prescriptions in Q3, and 52% payer coverage.
- **AXS-05 Alzheimer's Agitation**: Submission for NDA, targeting 70% of narcolepsy patients with cataplexy and poor tolerability to current treatments.
- **Pipeline Expansion**: 4 Phase III trials planned for Q4, including solriamfetol in ADHD and MDD with excessive sleepiness.
- **Cash Flow Positivity**: Management confident in achieving cash flow positivity with current $325 million cash balance and disciplined spending.

Axsome Therapeutics, Inc. (AXSM) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

AXSM

AXSM fundamentals

You can ask Aime