Axsome Therapeutics at H.C. Wainwright conference: growth broadens

On September 16, 2026, Axsome Therapeutics (AXSM) presented at the H.C. Wainwright 28th Annual Global Investment Conference, highlighting the company's transition from a clinical-stage biotech to a commercial entity. Management emphasized strong sales momentum and a diverse neuroscience pipeline for future growth, noting three marketed products and 10 development areas spanning psychiatry and neurology.

Q2 2024 revenue reached $218.4 million, a 46% increase from the previous year, primarily driven by Auvelity, which generated over $180 million. Auvelity is positioned as the first oral NMDA receptor antagonist and sigma-1 agonist for major depressive disorder and Alzheimer’s disease agitation. The company has $320 million in cash reserves and expects operating expenses to stabilize later in 2024.

Management sees Auvelity as the main growth engine, with peak sales potential exceeding $8 billion, with the majority expected from major depressive disorder and Alzheimer’s disease agitation. Sunosi, a dopamine and norepinephrine reuptake inhibitor, generated $36 million in Q2 2024 and has potential for $300 million to $500 million in peak sales.

SYMBRAVO, a monoclonal antibody for acute migraine, generated $2.3 million in Q2 2024 and is expected to grow. Axsome aims to file one new NDA annually through 2031, with several Phase III programs already underway.