On Tuesday, Axsome Therapeutics Inc (NASDAQ:AXSM) reported fourth-quarter 2024 revenues of $118.77 million, up from $71.53 million a year ago, beating the consensus of $117.64 million.
Sunosi (sleep disorder) net product revenues were $26.2 million, up 16%. Approximately 49,000 prescriptions were written for Sunosi, representing an increase of 16% year-over-year and 4% sequentially.
The company reported a net loss of $1.54 per share compared to $2.08 per share a year ago, missing the consensus of $(1.03).
Anticipated Milestones
In January, the FDA approved Axsome Therapeutics’ Symbravo (meloxicam and rizatriptan) for the acute treatment of migraine with or without aura in adults.
The company expects SYMBRAVO to be commercially available in the U.S. in approximately four months.
William Blair sees Axsome’s AXS-05 as a unique drug with strong safety advantages. Analyst Myles Minter is optimistic about its approval chances, citing positive results from the ADVANCE-1, ACCORD-1, and ACCORD-2 trials and its breakthrough therapy designation.
Price Action: AXSM shares are down 3% at $127.22 on the last check Tuesday.
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