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Axsome Therapeutics

AXSM Rare disease Lead: Approved 2 Biotech Distilled articles ↓ 17 filings & releases ↓ Cash $314M (Sep 30, 2026) ↓ 2 verdicts ↓ 5 timing quotes ↓
Neurology Small Molecule

Market cap $6.96B 52.6M shares (10-Q, Oct 26, 2026) × $132.37 close Nov 6, 2026

Most recent annual filing: 2026-02-23

Catalyst timeline

7 trackedQuarter catalyst calendar →
  1. solriamfetol ENGAGE Ph3 topline1Q 2027solriamfetol ENGAGE Ph3 topline, 1Q 2027, major
  2. Ecopipam Teva PDUFA date1Q 2027Ecopipam Teva PDUFA date, 1Q 2027, material
  3. Cytisinicline Achieve FDA decision1H 2027Cytisinicline Achieve FDA decision, 1H 2027, material
  4. AXS-12 reboxetine PDUFA dateMay 1, 2027AXS-12 reboxetine PDUFA date, May 1, 2027, major
  5. Blackstone delayed-draw term loan financingMay 31, 2027Blackstone delayed-draw term loan financing, May 31, 2027, routine
  6. solriamfetol SUSTAIN Ph3 topline2H 2027solriamfetol SUSTAIN Ph3 topline, 2H 2027, major
  7. SYMBRAVO corporate update~Jan–Feb 2028SYMBRAVO corporate update, ~Jan–Feb 2028, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (15 active programs)

deuterium-stabilized S-bupropion

AXS-18
Small Molecule
  • Undisclosed indication DeuteRx

Technology platforms

MoSEIC

Molecular Solubility Enhanced Inclusion Complex — rapid oral absorption technology used in SYMBRAVO for acute migraine treatment; enables multi-mechanistic drug delivery

Capital (as filed)

Cash
$314M cash and cash equivalents · Sep 30, 2026 (10-Q)
Operating cash flow
−$9.5M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$314M cash per the update of Nov 2, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (2)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (2 calls)

Every verdict Biotech Distilled has published on Axsome Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-09-24 Watch Axsome Therapeutics (AXSM) — Scientific Deep Dive for AUVELITY, SUNOSI, AXS-12 and Pipeline Products AUVELITY is a real product with settled exclusivity to 2038, but at ~$10.5B enterprise value the stock already prices in a successful agitation launch on an evidence base of one positive parallel trial; wait for Q3 results, prescription data reconciliation, and ENGAGE topline before acting.
  2. 2026-11-03 Avoid UPDATE: Axsome Therapeutics (AXSM) - The Trigger Trips The pre-registered trigger fired: Q3 AUVELITY revenue grew only 15% sequentially versus the 18% bar, with net price per prescription flattening as Medicare mix rises and agitation revenue still not broken out; passing on the launch evidence, not the company.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (5 quotes from 4 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (17)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 7, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

3 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)