Axsome Therapeutics, Inc. Q4 2025 Earnings Call Summary

2 weeks ago 9

Moby Intelligence

Mon, February 23, 2026 astatine 11:31 AM CST 3 min read

Achieved 66% yearly gross maturation driven by Auvelity's accelerated uptake, which surpassed $500,000,000 successful nett income successful its 3rd afloat twelvemonth of launch.
Attributed Auvelity's outperformance to its chiseled objective illustration and accelerated onset of action, allowing it to turn 42% year-over-year portion the broader antidepressant marketplace remained flat.
Expanded the superior attraction prescriber basal for Auvelity, which present represents astir one-third of each prescribers and is the fastest-growing segment.
Initiated a large income unit enlargement to astir 600 representatives to enactment continued MDD maturation and hole for the imaginable Alzheimer’s illness agitation (ADA) launch.
Reported accelerating momentum for Sunosi with 40% fourth-quarter gross growth, driven by accrued extent among existing writers successful some OSA and narcolepsy markets.
Successfully contracted with a 3rd ample commercialized GPO for Cymbravo, enabling negotiations with each large commercialized payers and PBMs to amended marketplace access.
Acquired AXS-17, a caller GABA-A modulator, to leverage the company's CNS expertise and existing information information for a caller improvement programme successful epilepsy.

Anticipates a PDUFA enactment day of April 30 for Auvelity successful Alzheimer’s illness agitation, with motorboat readiness activities presently underway.
Expects to taxable the NDA for AXS-12 successful narcolepsy imminently pursuing affirmative pre-NDA gathering minutes with the FDA.
Plans to initiate 2 parallel Phase III trials for solriamfetol successful pediatric and teen ADHD patients during the archetypal fractional of 2026.
Projects top-line results for solriamfetol successful binge eating upset successful the 2nd fractional of 2026, portion displacement enactment upset results are present anticipated successful 2027.
Assumes Auvelity and Sunosi gross-to-net discounts volition summation to the mid-50% scope successful aboriginal 2026 owed to emblematic first-quarter dynamics.

Maintained a currency equilibrium of $323,000,000, which absorption believes is capable to money operations until the institution reaches currency travel positivity.
Reported that Cymbravo gross-to-net discounts remained successful the high-70% scope during the archetypal motorboat phase, with expectations for them to stay elevated successful the adjacent term.
Noted that the 39% summation successful yearly SG&A expenses was chiefly driven by the nationalist DTC advertizing run and income unit expansion.
Flagged that portion ADA sum is expected to reflector MDD, the ADA marketplace is much heavy weighted toward Medicare Part D, which whitethorn change the nett terms profile.