Axsome Therapeutics, Inc. reported its financial results for the three months ended September 30, 2026, in a Form 8-K filed on November 2, 2026. The company announced total net product revenue of $259.7 million for the third quarter of 2026, representing a 52% year-over-year increase. This figure surpasses a one-billion-dollar annual run rate, according to the filing.
The company’s commercial performance was driven by its portfolio of CNS treatments. AUVELITY, a treatment for major depressive disorder, generated $207.6 million in net product sales, up 53% from the prior year. SUNOSI, used for excessive daytime sleepiness, contributed $48.2 million in net product revenue, which included $38.5 million in sales, $1.2 million in royalty revenue, and $8.5 million in milestone revenue. SYMBRAVO, an acute migraine treatment, recorded $3.9 million in net product sales, an 88% increase year-over-year.
Research and development expenses for the quarter were $50.6 million, compared to $40.2 million in the prior year. Selling, general, and administrative expenses totaled $203.1 million, up from $150.2 million in the comparable period. The company reported a net loss of $12.9 million, or $(0.25) per share, for the quarter.
In terms of commercial metrics, approximately 302,000 prescriptions were written for AUVELITY in Q3 2026, representing a 40% year-over-year increase. New-to-brand prescriptions for AUVELITY rose 44% year-over-year. Payer coverage for AUVELITY is currently at approximately 89% of all lives covered, including 100% of government lives (Medicare and Medicaid). SUNOSI saw 64,400 prescriptions written in the U.S. during the quarter, a 15% increase from the prior year, with payer coverage at 82% of all lives. SYMBRAVO prescriptions increased by 382% year-over-year to approximately 25,000.
On the development front, Axsome initiated the SUMMIT Phase 3 trial for AXS-05 in smoking cessation in August 2026. The company also outlined anticipated milestones for 2027, including topline results from the SUMMIT trial and the ENGAGE Phase 3 trial for solriamfetol in binge eating disorder in the first quarter. Additionally, the company expects to complete enrollment in the FORWARD Phase 3 trial for AXS-14 in fibromyalgia in the third quarter of 2027.
