Summary: Axsome Therapeutics Inc reported preliminary net product revenue of $118.3 million for the fourth quarter of 2024 and $385.2 million for the full year, reflecting significant growth driven by its key products, Auvelity and Sunosi. Sunosi contributed $25.7 million in Q4 and $93.8 million for the year. Axsome also highlighted advancements in its neuroscience pipeline, including positive Phase 3 trial results for AXS-12 in narcolepsy and AXS-05 in Alzheimer’s disease agitation, with regulatory filings for both planned in 2025. Additionally, the company is preparing for the potential launch of AXS-07 for acute migraine treatment, pending regulatory approval.
Key Takeaways:
- Revenue Growth Driven by Key Products: Axsome reported $385.2 million in preliminary 2024 revenue, with Sunosi contributing $93.8 million for the year.
- Advancements in Neuroscience Pipeline: Positive phase 3 results for AXS-12 in narcolepsy and AXS-05 in Alzheimer’s agitation support regulatory filings planned for 2025.
- Preparations for Future Launches: The company is actively preparing for the potential launch of AXS-07 for migraine treatment while maintaining strong sales momentum for Sunosi and Auvelity.
Axsome Therapeutics Inc announced preliminary fourth-quarter and full-year 2024 net product revenue, reporting approximately $118.3 million for the quarter and $385.2 million for the year, alongside progress in its neuroscience pipeline and commercial growth for its key products.
“We delivered strong revenue growth in 2024 and significantly advanced our industry-leading neuroscience pipeline, including achievement of positive phase 3 results for AXS-05 in Alzheimer’s disease agitation and for AXS-12 in narcolepsy, supporting planned regulatory filings for these indications and products in 2025,” says Herriot Tabuteau, MD, chief executive officer of Axsome, in a release. “We also look to carry our commercial momentum into 2025 with continued growth for Auvelity and Sunosi, and are making active launch preparations for AXS-07 for the acute treatment of migraine, if approved.”
Preliminary Q4 and Full Year 2024 Net Product Revenue
Based on preliminary unaudited financial information, Axsome expects total product revenue to be approximately $118.3 million and $385.2 million for the fourth quarter and full year of 2024, respectively.
Sunosi, a prescription treatment to improve wakefulness for excessive daytime sleepiness due to obstructive sleep apnea, net product revenue is expected to be approximately $25.7 million and $93.8 million for the fourth quarter and full year of 2024, respectively.
Auvelity, a treatment for adults with major depressive disorder, net product sales are expected to be approximately $92.6 million and $291.4 million for the fourth quarter and full year of 2024, respectively.
This announcement is not a comprehensive statement of Axsome’s financial results and is subject to the completion of Axsome’s financial closing procedures. Axsome’s final financial results will be issued upon completion of its closing procedures and may vary from these preliminary estimates.
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