Axsome's Strategy on Payer Coverage Slowly Pays Off, Depression Drug Sales Show Growth
Portfolio Pulse from Vandana Singh
Axsome Therapeutics Inc reported Q3 revenues of $57.8 million, up 244% Y/Y, beating the consensus of $54.75 million. Auvelity net product sales were $37.7 million, a 36% sequential increase. Sunosi net product revenue was $20.1 million for Q3, up 20%. The company reported a net loss of $(1.32) per share, missing the consensus of $(1.20). AXSM shares are down 3.23% at $63.04.
November 06, 2023 | 8:22 pm
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Axsome Therapeutics reported strong Q3 revenues, with significant growth in Auvelity and Sunosi sales. However, the company reported a net loss, missing the consensus. AXSM shares are down.
Axsome Therapeutics reported strong Q3 revenues, beating the consensus, driven by growth in Auvelity and Sunosi sales. However, the company reported a net loss, missing the consensus, which could negatively impact investor sentiment and the stock price. AXSM shares are already down 3.23%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100