AXSM - Could Axsome Therapeutics Stock Help You Become a Millionaire?
2023-04-16 08:30:00 ET
Investing in an up-and-coming growth stock can be a surefire way to generate some significant gains for your portfolio. One to consider now is Axsome Therapeutics (NASDAQ: AXSM) , a small biotech with big potential thanks to a couple of promising products. The company seems to be headed in the right direction. Is this a stock that has the potential to make you a millionaire? Let's find out.
Axsome has a narcolepsy medication, Sunosi, which contributed just under $45 million in revenue last year -- and this wasn't even for a full year as the company only acquired the medication from Jazz Pharmaceuticals in May 2022.
What's even more promising is Axsome's treatment for major depressive disorder, Auvelity. The U.S. Food and Drug Administration approved it last year, and at its peak, it could bring in roughly $2 billion in sales. The medication has shown positive results in patients after only one week of use. Axsome launched the product in October 2022, and it generated $5.2 million in sales by the end of the year.
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Could Axsome Therapeutics Stock Help You Become a Millionaire?