Core Insights - Axsome Therapeutics, Inc. will report its financial results for Q2 2024 on August 5, 2024, before U.S. market opening, followed by a conference call at 8:00 a.m. Eastern Time to discuss results and provide a business update [1] Company Overview - Axsome Therapeutics, Inc. is focused on developing novel therapies for central nervous system (CNS) disorders with limited treatment options, aiming to transform treatment approaches through innovative mechanisms of action [2] Investor Relations - Investors can participate in the conference call by dialing (877) 405-1239, and a live webcast will be available on the company's website [1]

Core Viewpoint - Axsome Therapeutics is facing scrutiny from a short-seller report alleging inflated revenue related to its depression therapy Auvelity, which may impact its stock performance in a challenging year [1][2]. Company Allegations - Culper Research accuses Axsome Therapeutics of inflating revenue from Auvelity, a combination therapy of two inexpensive off-patent drugs, which is priced significantly higher than its components [2]. - The report claims that Axsome uses mail-order pharmacies to bypass insurer requirements, with sales representatives directing patients to these pharmacies, raising concerns about the legitimacy of its sales practices [3]. Analyst Reactions - Despite the allegations, analysts from Morgan Stanley and Citigroup have maintained buy ratings on Axsome Therapeutics, arguing that the claims lack merit and that the company's sales practices align with industry standards [4]. Product Pipeline - Axsome Therapeutics is developing a robust late-stage pipeline, including treatments for migraine, fibromyalgia, narcolepsy, and Alzheimer's disease agitation, which could enhance its product lineup in the coming years [5]. - The company reported total revenue of $75 million in Q1, a decline from $94.6 million year-over-year, but net sales of $74.1 million showed a year-over-year increase of approximately 159% [6]. Market Valuation - As of the latest update, Axsome Therapeutics has a market capitalization of $3.72 billion, which may undervalue its potential based on its pipeline [6].

Core Viewpoint - A short-seller report by Culper Research has led to a significant sell-off of Axsome Therapeutics' stock, with shares declining by 6.8% following the allegations regarding the company's revenue practices related to its depression drug Auvelity [1] Group 1: Allegations and Impact - Culper Research claims that Axsome's commercialization of Auvelity involves undisclosed consignment deals with questionable mail-order pharmacies, which allegedly inflate script counts and reported revenues [1] - The report is based on interviews with former sales representatives, pharmacies, prescribing physicians, and patients, raising concerns about the legitimacy of Axsome's revenue [2] - A significant concern is that Axsome's recorded revenue may not be collectible if prescriptions are filled without prior authorizations, leading to potential financial repercussions for the company [2] Group 2: Financial Implications - Since the launch of Auvelity in October 2022, Axsome's receivables have increased from $20.4 million to $101.4 million, indicating a potential risk of uncollectible revenue [2] - If the allegations are substantiated, Axsome may need to restate its revenue and write down accounts receivable, which could lead to a substantial decline in stock value [3] Group 3: Investor Guidance - As of the report's publication, Axsome Therapeutics had not publicly addressed the allegations, leaving investors uncertain about the company's position [4] - Investors are advised to wait for the company's response before making any decisions regarding their holdings or potential purchases of Axsome shares [4]

NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ:AXSM) (Axsome), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system disorders, today announced that it has entered into a settlement agreement with Unichem Laboratories Ltd. (Unichem) resolving patent litigation related to Axsome's product Sunosi® (solriamfetol). The litigation, which is pending in the United States District Court for the District of New Jersey, result ...

Company Overview - Axsome Therapeutics, Inc. is a biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders with limited treatment options [3] - The company aims to transform the treatment approach for CNS conditions by developing therapeutic options with novel mechanisms of action [3] Industry Context - More than 37 million Americans suffer from migraine, making it the leading cause of disability among neurological disorders in the United States [2] - Migraine is associated with significant economic impacts, accounting for an estimated $78 billion in direct and indirect costs annually in the U.S. [2] - Surveys indicate that over 70% of migraine sufferers are not fully satisfied with their current treatment, and nearly 80% are open to trying new therapies [2]

NEW YORK, June 04, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ:AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, announced today it is joining the migraine advocacy community to raise awareness of unmet patient needs during Migraine & Headache Awareness Month this June. "Education plays a crucial role in addressing the stigma associated with migraine, a complex neurological disorder often misunderstood as ...

NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today announced five presentations, including two featured oral plenary presentations, on solriamfetol at SLEEP 2024, the 38th annual meeting of the American Academy of Sleep Medicine (AASM) and the Sleep Research Society (SRS), being held June 1-5, 2024, in Houston, Texas. “Cognitive functioni ...

NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ:AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today announced five presentations, including two featured oral plenary presentations, on solriamfetol at SLEEP 2024, the 38th annual meeting of the American Academy of Sleep Medicine (AASM) and the Sleep Research Society (SRS), being held June 1-5, 2024, in Houston, Texas. "Cognitive functionin ...

NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ:AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today announced that data from its industry-leading portfolio of novel products for CNS disorders will be presented at the 2024 American Society of Clinical Psychopharmacology (ASCP) Annual Meeting, being held May 28-31, 2024, in Miami Beach, Florida. The presentations include new data from post ...

NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today announced that Herriot Tabuteau, MD, Axsome’s Chief Executive Officer, will participate in two upcoming investor conferences. The presentation details are as follows: RBC Capital Markets 2024 Global Healthcare Conference, on Tuesday, May 14, at 1:35 p.m. Eastern Time. Dr. Tabuteau will pa ...