AXSM - Axsome Therapeutics GAAP EPS of -$1.41 misses by $0.28 revenue of $24.37M beats by $2.49M
- Axsome Therapeutics press release ( NASDAQ: AXSM ): Q4 GAAP EPS of -$1.41 misses by $0.28 .
- Revenue of $24.37M beats by $2.49M .
- Auvelity was launched on October 19, 2022 and had U.S. net sales of $5.2 million for the fourth quarter of 2022. No Auvelity sales were reported by Axsome for the 2021 comparable period reflecting the timing of the Auvelity approval and launch. Net sales of Sunosi to Axsome were $19.2 million and $44.8 million for the fourth quarter and full year of 2022 respectively. Axsome began selling Sunosi in the U.S. in May 2022 and in certain international markets in November 2022. Therefore no Sunosi sales were reported by Axsome for the 2021 comparable periods.
- Cash and cash equivalents totaled $200.8 million at December 31, 2022, compared to $86.5 million at December 31, 2021.
- Axsome believes that its current cash, along with the remaining committed capital from the $350 million term loan facility, is sufficient to fund anticipated operations into cash flow positivity, based on the current operating plan, which includes the continued commercialization of Sunosi and Auvelity.
- Axsome expects that its operating expenses will increase year over year as the Company commercializes Sunosi and Auvelity and continues to advance its pipeline.
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Axsome Therapeutics GAAP EPS of -$1.41 misses by $0.28, revenue of $24.37M beats by $2.49M