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Axsome Therapeutics Reports Second Quarter 2022 Financial Results and Provides Business Update
Company to host conference call today at 8:00 AM Eastern NEW YORK, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a
About this update from Axsome Therapeutics, Inc.
[{"type":"text","content":"Company to host conference call today at 8:00 AM Eastern NEW YORK, Aug. 09, 2022 (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 second quarter ended June 30, 2022. “We are very pleased to report our first commercial sales following the closing of the Sunosi acquisition in the second quarter. The rest of the year promises to continue to be eventful with the pending FDA action on our NDA for AXS-05 in major depressive disorder, and a Type A FDA meeting to discuss our planned resubmission of the NDA for AXS-07 in migraine, both anticipated this quarter,” said Herriot Tabuteau, MD, Chief Executive Officer of Axsome. “Thus far, our commercial infrastructure is performing as planned positioning us well for a launch of AXS-05, should it be approved. In addition to our commercial- and NDA-stage portfolio, we continue to advance our leading development pipeline of Phase 3-stage product candidates and clinical programs, including AXS-05 for Alzheimer’s disease agitation and smoking cessation, AXS-12 for narcolepsy, AXS-14 for fibromyalgia, and recently introduced solriamfetol for ADHD.” Business Update Axsome is committed to developing and delivering medicines that meaningfully improve the lives of patients living with CNS disorders. The Company is advancing a broad portfolio of differentiated, patent-protected, CNS products and product candidates. Commercial Product Sunosi® Sunosi (solriamfetol) is Axsome’s dual-acting dopamine and norepinephrine reuptake inhibitor shown to improve wakefulness in adults living with excessive daytime sleepiness (EDS) due to narcolepsy or obstructive sleep apnea (OSA). Axsome completed its U.S. acquisition of Sunosi from Jazz Pharmaceuticals on May 9, 2022. The ex-U.S. transaction is now expected to close in the fourth quarter of 2022.Axsome generated approximately $8.8 million in U.S. net sales of Sunosi from May 9 to June 30, 2022. Development Pipeline Axsome is advancing a portfolio of differentiated, patent-protected, CNS product candidates with five in active clinical development. AXS-05 AXS-05 (dextromethorphan-bupropion) is Axsome’s novel, oral, investigational NMDA receptor antagonist with multimodal activity bein...