Axsome Therapeutics reported third quarter 2026 total net product revenue of $259.7 million, exceeding analyst expectations and representing 52% year-over-year growth. The company reported a significantly narrower net loss of $0.25 per share, aided by strong underlying demand for its commercial portfolio and a $1 billion annualized revenue run rate. Management indicated that current cash reserves are sufficient to fund operations until the company reaches cash flow positivity.
Key Highlights
- Total net product revenue reached $259.7 million, a 52% increase from $171.0 million in the prior-year period.
- Net loss narrowed to $12.9 million, or $(0.25) per share, compared to a net loss of $47.2 million, or $(0.94) per share, in Q3 2025.
- Auvelity prescriptions grew 40% year-over-year to approximately 302,000, with a notable 211% increase in new-to-brand starts for patients aged 65 and older following the Alzheimer’s disease agitation launch.
- Sunosi net product revenue was $48.2 million, including $8.5 million in milestone revenue, while Symbravo sales surged 88% year-over-year to $3.9 million.
- The FDA is currently reviewing the NDA for AXS-12 in narcolepsy with a PDUFA action date set for May 1, 2027.