Axsome Therapeutics Q2 revenue rises on AUVELITY  growth

Axsome Therapeutics

10/08/2026 12:10

Overview
US biopharmaceutical firm's Q2 revenue grew 46% yr/yr but missed analyst expectations
Net loss for Q2 widened slightly compared to last year
Company launched AUVELITY for Alzheimer's agitation in June 2026

Outlook
Company expects commercial momentum to build over the balance of the year, especially for Auvelity
Axsome believes current cash is sufficient to fund operations into cash flow positivity
Company anticipates topline results from ENGAGE Phase 3 trial in binge eating disorder in 4Q 2026

Result Drivers
AUVELITY LAUNCH - Launch for Alzheimer's agitation in June 2026 drove new prescriptions and 51% yr/yr sales growth
SALES FORCE EXPANSION - Expanded sales force supported AUVELITY and SYMBRAVO commercialization, boosting prescription growth
SUNOSI PRESCRIPTION GROWTH - 14% yr/yr increase in US prescriptions and expanded payer coverage contributed to SUNOSI revenue growth

Company press release: ID:nGNX5bKGlw

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$218.38 mln
$221.23 mln (18 Analysts)
Q2 Loss Per Share
 
$0.99
 
Q2 Net Loss
 
$51.31 mln
 
Q2 Operating Expenses
 
$268.02 mln
 
Q2 Operating Income
 
-$49.65 mln
 
Q2 Pretax Loss
 
$51.19 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "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 $272.00, about 27.9% above its August 7 closing price of $212.74
The stock recently traded at 76 times the next 12-month earnings vs. a P/E of 124 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.)