Monitor Auvelity's launch in Alzheimer's agitation (June 2026) as the primary near-term catalyst; revenue growth trajectory remains strong, but rising SG&A expenses and EPS miss suggest caution on margin expansion. Focus on prescription trends and payer coverage updates.
Price Chart
Executive Summary
Axsome reported Q1 2026 revenue of $191.2M (57% YoY growth, slight beat vs $190.7M consensus), but GAAP EPS of -$1.26 missed the -$0.86 consensus by 46.5% due to higher SG&A and R&D costs. The recent FDA approval of Auvelity for Alzheimer's agitation is a key catalyst, but widening losses and rising expenses temper optimism.
Key Financial Metrics
Key Facts
- Q1 2026 net product revenue $191.2M, +57% YoY vs $121.5M
- AUVELITY revenue $153.2M, +59% YoY; ~223,000 prescriptions written
- SUNOSI revenue $33.9M, +34% YoY; SYMBRAVO revenue $4.1M
- GAAP net loss $(64.5M) or $(1.26)/share vs $(59.4M) or $(1.22)/share in Q1 2025
- FDA approved AUVELITY for Alzheimer's disease agitation in April 2026; full launch expected June 2026
- Cash and equivalents $305.1M at March 31, 2026
Financial Impact
Revenue grew 57% YoY to $191.2M, but net loss widened to $(64.5M) from $(59.4M) due to increased SG&A and R&D spending.
Risk Factors
- SG&A expenses grew 53% YoY, outpacing revenue growth and pressuring margins
- Net loss per share worsened to $(1.26), missing consensus by 46.5%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3286568 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | Institutional Cluster | $214.66 $211.12 | ▼ −1.65% | ▲ +0.25% | $176.95 (−17.57%) |
Aug 10, 2026 7w ago | 8-K | $220.89 $207.82 | ▼ −5.92% | ▼ −5.00% | $176.95 (−19.89%) |
Aug 10, 2026 7w ago | Press Release | $220.89 $207.82 | ▼ −5.92% | ▼ −5.00% | $176.95 (−19.89%) |
Jul 15, 2026 11w ago | Press Release | $237.53 $214.66 | ▼ −9.63% | ▼ −11.97% | $176.95 (−25.51%) |
Jul 9, 2026 12w ago | Court Ruling | $248.95 $210.13 | ▼ −15.59% | ▼ −17.84% | $176.95 (−28.92%) |
Jul 7, 2026 12w ago | Press Release | $249.76 $211.04 | ▼ −15.50% | ▼ −16.84% | $176.95 (−29.15%) |
Jul 1, 2026 13w ago | 144 | $244.31 $234.64 | ▼ −3.96% | ▼ −3.54% | $176.95 (−27.57%) |
Jun 15, 2026 15w ago | Press Release | $253.40 $228.28 | ▼ −9.91% | ▼ −9.16% | $176.95 (−30.17%) |
Jun 12, 2026 16w ago | Insider Cluster | $255.17 $233.80 | ▼ −8.37% | ▼ −10.15% | $176.95 (−30.66%) |
Jun 11, 2026 16w ago | 144 | $255.17 $233.80 | ▼ −8.37% | ▼ −10.15% | $176.95 (−30.66%) |
US Market Status
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