Business
Axsome Therapeutics Reports First Quarter 2023 Financial Results and Corporate Update
Auvelity® 1Q 2023 net product sales of $15.7 million Total 1Q 2023 net product sales of $28.6 million Total 1Q 2023 revenue of $94.6 million, including
About this update from Axsome Therapeutics, Inc.
[{"type":"text","content":"Auvelity® 1Q 2023 net product sales of $15.7 million Total 1Q 2023 net product sales of $28.6 million Total 1Q 2023 revenue of $94.6 million, including Sunosi® ex-U.S. license agreement upfront payment Company to host conference call today at 8:00 AM Eastern NEW YORK, May 08, 2023 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today reported financial results for the first quarter ended March 31, 2023. “The first quarter of 2023 was another important milestone for Axsome as it marked the first full quarter of launch for Auvelity. Based on the performance in the quarter, we are pleased that our marketed products are making a difference in the lives of a growing number of patients with major depressive disorder for Auvelity, and with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea for Sunosi,” said Herriot Tabuteau, MD, Chief Executive Officer of Axsome. “At the same time, our broad late-stage pipeline continues to advance with important near and intermediate term clinical and regulatory milestones including pivotal trial initiations, read-outs, and NDA filings. Our strong commercial, research, and financial profile positions us to continue to develop and deliver differentiated treatments for the millions of patients living with difficult-to-treat CNS disorders.” First Quarter 2023 Financial Highlights Total revenue for the first quarter of 2023 was $94.6 million, consisting of net product sales of $28.6 million, license revenue of $65.7 million, and royalty revenue of $0.3 million. The license revenue represents the upfront payment from Pharmanovia for Sunosi commercialization rights in Europe and certain countries in the Middle East and North Africa region, and the royalty revenue associated with sales of Sunosi in the out-licensed territories. There was no revenue for the 2022 comparable period reflecting the timing of the Auvelity launch and the Sunosi acquisition.Auvelity net product sales were $15.7 million for the first quarter of 2023.Sunosi net product sales were $12.9 million for the first quarter of 2023, including $1.7 million in international net sales booked by Axsome. An additional $0.3 million in royalty revenue associated with Sunosi s...