Axsome revenue reached $218.4 million in second quarter ahead of quarterly results
Key Facts
Markets are awaiting Axsome Therapeutics’ third-quarter 2026 results after the company reported total revenue of $218.4 million in the second quarter, up 46% year over year, according to its filing with the U.S. Securities and Exchange Commission. Those prior results came ahead of the scheduled third-quarter earnings announcement on November 2, 2026. The verified information available here does not include documented figures for third-quarter results or analyst estimates, so the loss and revenue figures in the initial draft cannot be confirmed. Second-quarter commercial product performance provides context for the upcoming announcement. The company’s shares closed at $144.43 on October 30, according to EL7 data.
AUVELITY was the largest driver among the products cited in the filing, with net sales of $180.3 million in the second quarter of 2026, up 51% from $119.6 million in the same period of 2025. Chief Executive Heriot Tabuteau said the company expects commercial momentum to continue through the rest of the year, with continued growth for the drug in treating agitation associated with Alzheimer’s disease and major depressive disorder. He said, "We expect our commercial momentum to strengthen through the rest of the year, particularly as AUVELITY continues to grow in Alzheimer’s disease agitation and major depressive disorder." Those expectations put sales performance and the development of the drug’s therapeutic uses among the issues investors will examine when the new results are released.
SUNOSI generated net revenue of $35.8 million in the second quarter, up 20% year over year from $30.0 million. The reported revenue comprised $33.8 million in net sales, $1.5 million in royalty revenue tied to sales in licensed territories, and $0.5 million in milestone revenue. By comparison, Axsome posted a second-quarter net loss of $51.3 million, or $0.99 per share, versus a loss of $48.0 million, or $0.97 per share, in the second quarter of 2025. The comparison shows that revenue and product growth did not prevent the net loss from widening year over year during the period.
Investor attention also extends to the company’s development pipeline, with Axsome expecting to report topline results from the Phase 3 ENGAGE study during the fourth quarter of 2026. The study is testing solriamfetol as a treatment for binge eating disorder. Those results would be a near-term clinical milestone on the company’s calendar, alongside monitoring commercial sales trends in the second half of the year. Tabuteau had said the company expects AUVELITY to continue growing in two therapeutic uses: Alzheimer’s agitation and major depression. The expected ENGAGE results date remains the forward-looking milestone with a stated timeframe in the filing.