Earnings Releases·Nov 2, 2026, 7:05 AM ET

Axsome Therapeutics — Third Quarter 2026 Earnings Summary

Total net product revenue reached $259.7 million, a 52% year-over-year increase, driven by AUVELITY sales of $207.6 million (+53% YoY) and SUNOSI revenue of $48.2 million (+47% YoY).
Net loss narrowed significantly to $12.9 million ($0.25 per share) from $47.2 million ($0.94 per share) in the prior year period, while cash and cash equivalents stood at $313.9 million as of September 30, 2026.
Management expects sustained momentum for AUVELITY and confirmed that current cash reserves are sufficient to fund operations through anticipated cash flow positivity.
The pipeline advanced with the initiation of the SUMMIT Phase 3 trial for AXS-05 in August 2026, while the AXS-12 NDA for narcolepsy remains under FDA review with a PDUFA date of May 1, 2027.
Payer coverage expanded to approximately 89% of all lives for AUVELITY and 82% for SUNOSI, supporting a 40% year-over-year increase in total AUVELITY prescriptions to 302,000.