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# Axsome's Quarterly Net Loss Shrinks To $12.9 Million As Sales Climb 52%
- URL: https://www.bullished.co/axsomes-quarterly-net-loss-shrinks-to-12-9-million-as-sales-climb-52-f07a0199/
- Published: 2026-11-02T12:22:29.000Z
- Updated: 2026-11-02T12:22:29.000Z
- Description: The drugmaker's third-quarter product revenue hit $259.7 million, and it says current cash funds operations into cash flow positivity.
- Author: Matteo Parrino
- Tags: Earnings, AXSM, Industry: Healthcare

Axsome Therapeutics, a biopharmaceutical company that sells medicines for central nervous system conditions, narrowed its third-quarter net loss to [$12.9 million](https://www.sec.gov/Archives/edgar/data/0001579428/000119312526442628/axsm-ex99%5F1.htm?ref=bullished.co) from $47.2 million a year earlier, as net product revenue rose 52% to $259.7 million, the company said Monday.

## Auvelity carries the quarter

Auvelity, its depression drug, brought in $207.6 million, up 53% from $136.1 million. Sunosi, for excessive daytime sleepiness, generated $48.2 million, up 47%, including $8.5 million in milestone revenue. Symbravo, the migraine treatment, added $3.9 million, up 88% from $2.1 million.

CEO Herriot Tabuteau said the 52% revenue growth pushed the company past a one-billion-dollar annual run rate. He pointed to "strong underlying demand for Auvelity in major depressive disorder" and to accelerating new patient starts in Alzheimer's disease agitation, a use the FDA approved on April 30, 2026, according to the company's presentation.

About 302,000 Auvelity prescriptions were written in the quarter, up 40% from a year earlier and 14% from the second quarter. New-to-brand prescriptions rose 44% from a year earlier. Among patients 65 and older, new-to-brand prescriptions rose 211% and total prescriptions rose 101% from the third quarter of 2025.

## Spending still nearly matches sales

Selling, general and administrative expenses rose to $203.1 million from $150.2 million, which the company tied mainly to commercializing Auvelity and Symbravo. Research and development costs rose to $50.6 million from $40.2 million. The loss of $0.25 per share, against $0.94 a year earlier, includes $26.4 million of stock-based compensation.

Cash and equivalents stood at $313.9 million on September 30, against $322.9 million at December 31, 2025\. The company said it believes current cash is sufficient to fund anticipated operations into cash flow positivity, based on its current operating plan.

## Regulatory date and trial readout

The FDA's target action date for AXS-12, the company's narcolepsy drug for cataplexy, is May 1, 2027\. Topline results from the late-stage ENGAGE trial of solriamfetol in binge eating disorder are expected in the first quarter of 2027, and enrollment targets for that trial have been reached.

The company also began a late-stage trial of AXS-05 for smoking cessation in August 2026, with results anticipated in the second half of 2027.

The next hard dates are the first-quarter 2027 ENGAGE readout and the May 1, 2027 FDA target date for AXS-12.

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### Sources

- [8-K Filing — Axsome Therapeutics, Inc. (AXSM)](https://www.sec.gov/Archives/edgar/data/0001579428/000119312526442628/axsm-20261102.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit axsm-ex99\_1.htm — Axsome Therapeutics, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001579428/000119312526442628/axsm-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit axsm-ex99\_2.htm — Axsome Therapeutics, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001579428/000119312526442628/axsm-ex99%5F2.htm?ref=bullished.co) — SEC EDGAR