The biotech’s Q2 earnings release showed total revenue rising to $218.4 million, up from $149.5 million a year earlier, reflecting strong demand for its flagship depression treatment Auvelity.
Auvelity generated $180.3 million in sales during the quarter, a 51% increase from the same period last year, and the company announced that the drug has received a label expansion to treat agitation in patients with Alzheimer’s disease, opening a sizable new market.
In addition to Auvelity, Axsome markets Sunosi, a therapy for excessive daytime sleepiness associated with narcolepsy, and Symbravo, a migraine treatment, both of which continue to contribute to the firm’s revenue mix.
Looking ahead, Axsome is advancing its pipeline with a Phase 3 trial of AXS‑14 for fibromyalgia and is preparing Phase 3 studies of AXS‑20 for schizophrenia. The company also expects a regulatory decision on AXS‑12 for narcolepsy by May of next year.
The stock currently trades around $207.78, down 3.03% on the day, with a market capitalization of roughly $11 billion. Analysts on Yahoo! Finance have an average price target of $285.42, implying about a 35% upside from the current level.
Axsome’s shares have risen approximately 660% over the past five years, reflecting investor optimism about its late‑stage pipeline and the recent commercial momentum of Auvelity.