Axsome stock price drops over 2%, despite Q4 earnings surpassing expectations

New York - Axsome Therapeutics Inc. (NASDAQ:AXSM) reported fourth-quarter earnings that exceeded analyst expectations.

The company’s stock fell 2.03% in pre-market trading.

This biopharmaceutical company’s fourth-quarter loss was $0.56 per share, better than the market consensus of $0.73.

Revenue reached $196.0 million, surpassing analyst estimates of $189.81 million, and up 65% from $118.8 million in the same period last year.

For the full fiscal year 2025, Axsome reported total product net revenue of $638.5 million, a 66% increase year-over-year, compared to $385.7 million in 2024.

The company’s flagship product AUVELITY generated $155.1 million in sales in the fourth quarter, a 68% increase year-over-year, while SUNOSI contributed $36.7 million in revenue, up 40%. The newly launched SYMBRAVO contributed $4.1 million in sales in the fourth quarter.

Chief Executive Officer Dr. Herriot Tabuteau stated, “Our fourth-quarter and full-year 2025 results demonstrate strong commercial momentum for our marketed products, and our central nervous system innovation pipeline continues to advance and expand.”

The company’s supplemental new drug application for AXS-05, used to treat agitation in Alzheimer’s disease, has received FDA priority review, with an expected approval date of April 30, 2026.

Axsome also plans to submit a new drug application for AXS-12 for the treatment of narcolepsy in this quarter.

The full-year net loss for 2025 was $183.2 million, or $3.68 per share, compared to a net loss of $287.2 million, or $5.99 per share, in 2024. The company reported cash and cash equivalents of $322.9 million as of December 31, 2025, which it believes is sufficient to support operations until achieving positive cash flow.

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