European Investor
10 Aug 2026, 14:28
Axsome Therapeutics Stock Rises 2.5% as Q2 Revenue Jumps 46% on Strong AUVELITY Growth
Axsome Therapeutics (NASDAQ: AXSM) shares rose about 2.5% Monday after the CNS-focused biopharmaceutical company reported strong second-quarter revenue growth, led by continued momentum for AUVELITY and progress across its late-stage pipeline.
Total net product revenue increased 46% year over year to $218.4 million from $150 million. AUVELITY remained the main growth engine, with sales jumping 51% to $180.3 million, while SUNOSI revenue increased 20% to $35.8 million.
SYMBRAVO, launched in June 2025, generated $2.3 million in quarterly sales, up from $0.4 million a year earlier.
AUVELITY Growth Accelerates After Alzheimer’s Agitation Launch
A key positive for investors was the early performance of AUVELITY following its June launch for agitation associated with dementia due to Alzheimer’s disease.
Among patients aged 65 and older, new-to-brand prescriptions increased 126% during the first eight weeks following the launch compared with the same period of the previous quarter.
Overall AUVELITY new-to-brand prescriptions increased 26% sequentially, while approximately 266,000 prescriptions were written during the quarter, up 34% year over year and 12% from the first quarter.
The drug currently has payer coverage across approximately 89% of covered lives, including 100% in Medicare and Medicaid channels.
Higher Commercial Spending Keeps Axsome in the Red
Rapid commercial expansion is coming with significantly higher expenses. SG&A spending jumped to $208.1 million from $130.3 million a year earlier, primarily reflecting AUVELITY sales-force expansion, the Alzheimer’s agitation launch and SYMBRAVO commercialization.
Axsome consequently reported a net loss of $51.3 million, or $0.99 per share, compared with a $48 million loss a year earlier.
Cash and equivalents stood at $319.9 million at the end of June. Importantly, management said its existing cash position should be sufficient to fund operations through cash-flow positivity under its current operating plan.
Pipeline Adds Another Catalyst
Axsome also reported progress beyond its commercial portfolio. The FDA accepted the company's NDA for AXS-12 for cataplexy in narcolepsy and set a PDUFA target action date of May 1, 2027.
The company has also initiated the FOCUS-2 and FOCUS-3 Phase 3 trials evaluating solriamfetol in children and adolescents with ADHD.
The roughly 2.5% gain in AXSM stock suggests investors are focusing on the accelerating commercial trajectory, particularly AUVELITY's 51% sales growth and encouraging early adoption in Alzheimer’s agitation. Rising commercialization expenses remain a near-term consideration, but strong prescription trends, substantial revenue growth and additional regulatory catalysts provide support for Axsome's longer-term growth story.
Axsome Therapeutics (NASDAQ: AXSM) shares rose about 2.5% Monday after the CNS-focused biopharmaceutical company reported strong second-quarter revenue growth, led by continued momentum for AUVELITY and progress across its late-stage pipeline.
Total net product revenue increased 46% year over year to $218.4 million from $150 million. AUVELITY remained the main growth engine, with sales jumping 51% to $180.3 million, while SUNOSI revenue increased 20% to $35.8 million.
SYMBRAVO, launched in June 2025, generated $2.3 million in quarterly sales, up from $0.4 million a year earlier.
AUVELITY Growth Accelerates After Alzheimer’s Agitation Launch
A key positive for investors was the early performance of AUVELITY following its June launch for agitation associated with dementia due to Alzheimer’s disease.
Among patients aged 65 and older, new-to-brand prescriptions increased 126% during the first eight weeks following the launch compared with the same period of the previous quarter.
Overall AUVELITY new-to-brand prescriptions increased 26% sequentially, while approximately 266,000 prescriptions were written during the quarter, up 34% year over year and 12% from the first quarter.
The drug currently has payer coverage across approximately 89% of covered lives, including 100% in Medicare and Medicaid channels.
Higher Commercial Spending Keeps Axsome in the Red
Rapid commercial expansion is coming with significantly higher expenses. SG&A spending jumped to $208.1 million from $130.3 million a year earlier, primarily reflecting AUVELITY sales-force expansion, the Alzheimer’s agitation launch and SYMBRAVO commercialization.
Axsome consequently reported a net loss of $51.3 million, or $0.99 per share, compared with a $48 million loss a year earlier.
Cash and equivalents stood at $319.9 million at the end of June. Importantly, management said its existing cash position should be sufficient to fund operations through cash-flow positivity under its current operating plan.
Pipeline Adds Another Catalyst
Axsome also reported progress beyond its commercial portfolio. The FDA accepted the company's NDA for AXS-12 for cataplexy in narcolepsy and set a PDUFA target action date of May 1, 2027.
The company has also initiated the FOCUS-2 and FOCUS-3 Phase 3 trials evaluating solriamfetol in children and adolescents with ADHD.
The roughly 2.5% gain in AXSM stock suggests investors are focusing on the accelerating commercial trajectory, particularly AUVELITY's 51% sales growth and encouraging early adoption in Alzheimer’s agitation. Rising commercialization expenses remain a near-term consideration, but strong prescription trends, substantial revenue growth and additional regulatory catalysts provide support for Axsome's longer-term growth story.
