Axsome Therapeutics, Inc. (NASDAQ: AXSM) has reported its fourth quarter and full year 2025 financial results, showcasing robust growth in net product revenue. The company's total net product revenue for the fourth quarter of 2025 was $196.0 million, representing a substantial 65% year-over-year increase from $118.8 million in the same period in 2024. For the full year 2025, the net product revenue amounted to $638.5 million, marking a 66% rise from the $385.7 million achieved in 2024.
Key highlights of the financial results include: Net product sales of Auvelity® reached $155.1 million in the fourth quarter of 2025, reflecting a notable 68% year-over-year growth from $92.6 million in the same period in 2024. For the full year 2025, Auvelity® net product sales stood at $507.1 million, marking a substantial 74% increase from $291.4 million in 2024. Sunosi® net product revenue for the fourth quarter of 2025 amounted to $36.7 million, representing a 40% year-over-year growth from $26.2 million in 2024. The full year 2025 saw Sunosi® generate $124.8 million in net product revenue, indicating a 32% increase from the $94.3 million achieved in 2024. * Symbravo® net product sales were $4.1 million for the fourth quarter of 2025 and $6.6 million for the full year 2025.
Furthermore, the company's total cost of revenue for the fourth quarter of 2025 was $12.3 million, up from $10.5 million in the same period in 2024. Research and development (R&D) expenses decreased to $48.8 million for the fourth quarter of 2025 from $55.0 million in the same period in 2024. Selling, general, and administrative (SG&A) expenses increased to $169.3 million for the fourth quarter of 2025 from $113.3 million in the same period in 2024.
The company reported a net loss of $28.6 million, or $(0.56) per share, for the fourth quarter of 2025, compared to a net loss of $74.9 million, or $(1.54) per share, for the fourth quarter of 2024. For the full year 2025, the net loss was $183.2 million, or $(3.68) per share, compared to a net loss of $287.2 million, or $(5.99) per share, for the full year 2024.
Axsome Therapeutics also provided commercial highlights for its products, including Auvelity®, Sunosi®, and Symbravo®, as well as updates on its development pipeline, which includes programs targeting serious psychiatric and neurological conditions.
The company emphasized its financial guidance, stating that it believes its current cash is sufficient to fund anticipated operations into cash flow positivity based on the current operating plan.
Investors and stakeholders can access a full breakdown of Axsome Therapeutics' financial results and business updates through the company's official press release and disclosures.
The company will also host a conference call and webcast to discuss its fourth quarter and full year 2025 financial results and provide a business update.
Axsome Therapeutics is a biopharmaceutical company focused on leading advancements in the treatment of central nervous system (CNS) conditions, with a portfolio that includes FDA-approved treatments and several late-stage development programs addressing neurological and psychiatric conditions.
Following these announcements, the company's shares moved 1.8%, and are now trading at a price of $177.27. If you want to know more, read the company's complete 8-K report here.
