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NEW YORK - On Monday, Axsome Therapeutics, Inc. (NASDAQ:AXSM) reported second quarter financial results that exceeded analyst expectations, driven by strong performance across its product portfolio.
The company’s shares jumped 5.13% in pre-market trading after the earnings release.
The biopharmaceutical company posted total revenue of $150.04 million for the second quarter of 2025, significantly beating the consensus estimate of $139.31 million. Quarterly losses narrowed to $0.97 per share, better than analysts’ expectations of a $1.06 per share loss. The revenue represents 72% growth YoY and 24% sequential growth compared to the first quarter.
AUVELITY, the company’s treatment for major depressive disorder, led the growth with $119.6 million in net product sales, representing an 84% increase YoY and 24% sequential growth. SUNOSI, for excessive daytime sleepiness, contributed $30 million in net product revenue, up 35% YoY. The newly launched migraine treatment SYMBRAVO, which became available in June, added $0.4 million in initial sales.
"Axsome delivered robust second quarter performance, reflecting strong underlying demand for our life-changing medicines, exacting commercial execution, solid regulatory progress, and continued advancement of our differentiated neuroscience pipeline," said Herriot Tabuteau, MD, Chief Executive Officer of Axsome Therapeutics.
The company expanded market access for AUVELITY by 28 million new covered lives in the commercial channel, bringing overall payer coverage to approximately 83% across all channels.
Axsome remains on track with its pipeline development, including plans to submit a supplemental New Drug Application for AXS-05 in Alzheimer’s disease agitation in the third quarter of 2025, and an NDA for AXS-12 for narcolepsy in the fourth quarter.
The company ended the quarter with $303 million in cash and cash equivalents, which it believes is sufficient to fund operations until reaching cash flow positivity.
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