Axsome Therapeutics Q1 revenue rises 57%, but loss widens on rising costs

Axsome Therapeutics

04/05/2026 12:08

Overview

U.S. CNS drugmaker's Q1 net product revenue rose 57% yr/yr to $191.2 mln

Company posted Q1 net loss of $64.5 mln as operating expenses increased

FDA approved Auvelity for agitation in Alzheimer's dementia; new schizophrenia drug added to pipeline

Outlook

Company says current cash is sufficient to fund operations into cash flow positivity

AUVELITY commercial launch for Alzheimer's disease agitation indication scheduled for June 2026

Axsome expects topline results from ENGAGE Phase 3 trial in binge eating disorder in 2H 2026

Result Drivers

AUVELITY SALES GROWTH - Q1 revenue was driven by a 59% yr/yr increase in Auvelity sales, supported by higher prescription volumes and expanded payer coverage

SUNOSI PRESCRIPTION GROWTH - Sunosi revenue rose 34% yr/yr, with U.S. prescriptions up 16% and payer coverage at 83% of covered lives

OPERATING EXPENSES - Higher SG&A costs reflected pre-launch and commercialization activities for Auvelity’s new Alzheimer’s indication and Symbravo

Company press release: ID:nGNX2cGVvK

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$1.26
Q1 Net Income
-$64.54 mln
Q1 Operating Expenses
$254.56 mln
Q1 Operating Income
-$63.36 mln
Q1 Pretax Profit
-$64.54 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Axsome Therapeutics Inc is $241.50, about 16.9% above its May 1 closing price of $206.53

The stock recently traded at 121 times the next 12-month earnings vs. a P/E of 193 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)