FDA's Rejection of Sage/Biogen's Zuranolone Boosts Prospects for Axsome's Auvelity, Analyst Says
Portfolio Pulse from Vandana Singh
Axsome Therapeutics reported Q2 sales of $46.7 million, beating the consensus of $40.19 million. Sales from Auvelity, a prescription oral medicine for major depressive disorder (MDD), reached $27.6 million. The FDA's rejection of Sage Therapeutics and Biogen's zuranolone for MDD is seen as a positive for Axsome's Auvelity. Analysts believe this will increase Auvelity's competitive edge as a novel-acting branded antidepressant.
August 07, 2023 | 4:07 pm
News sentiment analysis
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NEGATIVE IMPACT
The FDA's rejection of Biogen's zuranolone for MDD could negatively impact the company's future earnings.
The FDA's rejection of zuranolone, a drug developed by Biogen, could negatively impact the company's future earnings as it reduces the company's potential product portfolio.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The FDA's rejection of Sage's zuranolone for MDD could negatively impact the company's future earnings.
The FDA's rejection of zuranolone, a drug developed by Sage, could negatively impact the company's future earnings as it reduces the company's potential product portfolio.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Axsome's Q2 sales beat consensus, boosted by Auvelity. The FDA's rejection of Sage/Biogen's zuranolone is seen as a positive for Auvelity's market position.
Axsome's Q2 sales beat consensus, largely due to the sales of Auvelity. The FDA's rejection of a competing drug, zuranolone, is likely to reduce competition and increase the market share for Auvelity, which could positively impact Axsome's future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100