Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw its shares climb more than 5% in pre-market trading Monday, following the release of its second-quarter results that topped Wall Street estimates thanks to strong commercial momentum across its product lines.
The biopharmaceutical firm reported $150.04 million in revenue for Q2 2025, well ahead of the analyst consensus of $139.31 million. The company also reported a reduced quarterly net loss of $0.97 per share, outperforming expectations of a $1.06 per-share loss. The top-line figure marked a 72% year-over-year gain and a 24% increase from the previous quarter.
The antidepressant AUVELITY led the charge with $119.6 million in net sales—an 84% rise compared to the same period last year and 24% growth from Q1. SUNOSI, aimed at treating excessive daytime sleepiness, generated $30 million in net product revenue, reflecting a 35% annual growth. SYMBRAVO, a new treatment for migraines launched in June, contributed $0.4 million in early 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 made notable strides in expanding access to AUVELITY, adding 28 million new lives under coverage in the commercial market. This expansion brings total payer coverage to approximately 83% across all payer types.
Pipeline progress remains on schedule, with Axsome planning to submit a supplemental New Drug Application for AXS-05 in Alzheimer’s disease agitation during Q3 2025, and a New Drug Application for AXS-12, a potential treatment for narcolepsy, by Q4.
As of quarter-end, Axsome held $303 million in cash and equivalents, which the company says will be sufficient to support operations until it reaches positive cash flow.
Axsome Therapeutics stock price
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