Axsome Therapeutics Reports $121.5 Million in Revenue, Net Loss Decreases to $59.4 Million

Axsome Therapeutics, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $121.5 million for the three months ended March 31, 2025, compared to $75.0 million for the same period in 2024. This increase was primarily driven by a substantial rise in product sales, which amounted to $120.4 million, up from $74.1 million year-over-year. The company’s net loss for the quarter was $59.4 million, a decrease from the $68.4 million loss reported in the prior year, reflecting improved operational performance despite ongoing investments in research and development.

The company’s operating expenses rose to $178.4 million, up from $142.3 million in the previous year, largely due to increased costs in research and development, which totaled $44.8 million compared to $36.8 million in 2024. Selling, general, and administrative expenses also increased to $120.8 million from $99.0 million, driven by heightened commercial activities related to its products, including Auvelity and Sunosi, as well as preparations for the launch of Symbravo, which received FDA approval in January 2025.

Axsome has made strategic advancements, including the successful commercialization of its products and the expansion of its product portfolio. The company launched Auvelity in October 2022 and has since seen a significant increase in sales, with U.S. net sales for Auvelity reaching $96.2 million in the first quarter of 2025, compared to $53.4 million in the same quarter of 2024. Sunosi also contributed to revenue growth, with net sales of $24.1 million, up from $20.7 million year-over-year. The company has also entered into a licensing agreement with Pharmanovia to market Sunosi in Europe and certain countries in the Middle East and North Africa.

Operationally, Axsome reported a total employee headcount of 712 as of April 28, 2025, reflecting its growth and expansion efforts. The company continues to focus on its pipeline of product candidates, including AXS-12 and AXS-14, which are in various stages of development. The company’s accumulated deficit as of March 31, 2025, stood at $1.182 billion, indicating the ongoing financial challenges it faces as it invests heavily in product development and commercialization.

Looking ahead, Axsome anticipates continued revenue fluctuations based on market demand for its products. The company believes its existing cash reserves will be sufficient to fund operations for at least the next twelve months, but it may seek additional financing through public or private equity offerings, debt financing, or strategic partnerships to support its growth initiatives. The company remains committed to advancing its product candidates and achieving profitability, although it acknowledges the inherent risks and uncertainties associated with the biopharmaceutical industry.