From GlobeNewswire: 2025-02-18 07:00:00

Axsome Therapeutics, Inc. reported strong financial results for the fourth quarter and full year of 2024, with net product revenue reaching $118.8 million and $385.7 million, respectively. The company saw significant growth in product sales, with Auvelity sales reaching $92.6 million in Q4 and $291.4 million for the year. Sunosi also performed well, with $26.2 million in Q4 sales and $94.3 million for the year.

Symbravo was approved by the FDA for the acute treatment of migraine in adults, marking a significant milestone for Axsome. The company also completed a successful Phase 3 clinical program for AXS-05 in Alzheimer’s disease agitation and anticipates submitting an NDA in the second half of 2025.

Axsome is on track to report topline results from the EMERGE Phase 3 trial of Symbravo in migraine and the FOCUS and PARADIGM Phase 3 trials of solriamfetol in ADHD and MDD, respectively, in the first quarter of 2025.

The company’s financial results show a net loss of $74.9 million for Q4 2024, with total costs of revenue at $10.5 million. Research and development expenses were $55.0 million, while selling, general, and administrative expenses were $113.3 million. Cash and cash equivalents totaled $315.4 million at the end of 2024.

Axsome is focused on advancing its late-stage pipeline of CNS treatments, with key programs including AXS-05 for Alzheimer’s disease agitation, solriamfetol for ADHD and MDD, and Symbravo for migraine. The company believes its current cash position is sufficient to fund operations into cash flow positivity.

The company’s commercial highlights include strong prescription numbers for Auvelity and Sunosi, with payer coverage at 78% and 83% of all covered lives, respectively. Symbravo’s FDA approval for migraine treatment is a significant achievement, with pre-launch activities underway for commercial availability in the U.S. within four months.



Read more at GlobeNewswire:: Axsome Therapeutics Reports Fourth Quarter and Full Year