Axsome Therapeutics Reports Strong 2024 Earnings Results

Axsome Therapeutics highlights strong financials and product growth in 2024. Key takeaways include year-over-year revenue growth and promising pipeline developments.

Date: 18-02-2025

AI Rating: 7

Financial Performance Overview: In 2024, Axsome Therapeutics delivered significant financial results, reporting net product revenue of $386 million, indicating high double-digit year-over-year growth.

The company's total net product revenue reflects a robust performance, primarily driven by Auvelity and Sunosi. For the fourth quarter alone, net product revenue reached $118.8 million, marking a remarkable year-over-year growth of 66%.

Earnings Per Share (EPS): In the fourth quarter, Axsome reported a net loss of $74.9 million or $1.54 per share, which is an improvement compared to a net loss of $98.7 million or $2.08 per share for the same period in 2023. For the full year, the net loss was $287.2 million or $5.99 per share, compared to a net loss of $239.2 million or $5.27 per share in 2023. Although losses were incurred, the reduced loss per share represents a positive trend for investors.

Revenue Growth: The company exhibited impressive revenue growth, with Auvelity net product sales growing by 89% year-over-year and reaching $92.6 million in Q4. Sunosi also contributed to growth, reporting revenue of $26.2 million and 16% year-over-year growth.

Product Pipeline Developments: Axsome has a robust product pipeline with multiple upcoming NDA submissions and ongoing clinical trials that could drive future revenue growth. Recently, they received U.S. approval for Symbravo, an oral acute treatment for migraine, enhancing their product portfolio.

Market Positioning: The improvements in market access and increasing awareness of Axsome’s products further support the expectation of continued revenue growth into 2025.

Stocks: AXSM