In the investing world, a two-bagger refers to a stock that gains 100% -- that is, it doubles your initial capital. Doing so in a mere five years is no easy feat. It requires a compound annual growth rate (CAGR) of about 14.9% -- which, incidentally, is pretty much what the S&P 500 has posted in the past half-decade.However, this has been an unusual period; the broader market's average annual return is usually below that level. So returns of this type are by no means a guarantee. But if I had to bet on two ...

NEW YORK, Jan. 23, 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 it will report its financial results for the fourth quarter and full year of 2023 on Tuesday, Feb. 20, 2024, before the opening of the U.S. financial markets. Axsome’s management team will host a conference call at 8:00 a.m. Eastern Time on Feb. 20, 2024, to discuss these resul ...

NEW YORK, Jan. 23, 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 it will report its financial results for the fourth quarter and full year of 2023 on Tuesday, Feb. 20, 2024, before the opening of the U.S. financial markets. Axsome's management team will host a conference call at 8:00 a.m. Eastern Time on Feb. 20, 2024, to discuss these result ...

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Q3 2023 Earnings Conference Call November 6, 2023 8:00 AM ET Company Participants Mark Jacobson - Chief Operating Officer Herriot Tabuteau - Chief Executive Officer Nick Pizzie - Chief Financial Officer Lori Englebert - Executive Vice President, Commercial and Business Development Hunter Murdock - General Counsel Conference Call Participants Charles Duncan - Cantor Fitzgerald Rudy Li - Leerink Partners Vikram Purohit - Morgan Stanley David Amsellem - Piper Sandler Jas ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-37635 AXSOME THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 45-4241907 (State or ...

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Q2 2023 Earnings Conference Call August 7, 2023 8:00 AM ET Company Participants Mark Jacobson - IR Herriot Tabuteau - CEO Nick Pizzie - CFO Lori Englebert - EVP, Commercial and Business Development Conference Call Participants Charles Duncan - Cantor Fitzgerald Raghuram Selvaraju - H.C. Wainwright Joon Lee - Truist Securities Jason Gerberry - Bank of America David Amsellem - Piper Sandler Vikram Purohit - Morgan Stanley Yatin Suneja - Guggenheim Partners Joseph Thome ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-37635 AXSOME THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 45-4241907 (State or other ...

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Q1 2023 Earnings Conference Call May 8, 2023 8:00 AM ET Company Participants Mark Jacobson - Investor Relations Herriot Tabuteau - Chief Executive Officer Nick Pizzie - Chief Financial Officer Lori Englebert - Executive Vice President, Commercial and Business Development Conference Call Participants Charles Duncan - Cantor Fitzgerald Marc Goodman - SVB Securities David Amsellem - Piper Sandler Joon Lee - Truist Securities Vikram Purohit - Morgan Stanley Yatin Suneja - ...

Financial Performance - Total revenues for the quarter ended March 31, 2023, were $94.576 million, with product sales of $28.569 million and license revenue of $65.735 million[14]. - Operating expenses for the same period were $100.950 million, significantly higher than $38.289 million in the previous year, driven by increased research and development costs[14]. - The net loss for the quarter was $11.218 million, a reduction from a net loss of $39.632 million in the same quarter of the previous year[14]. - Cash at the end of the period was $246.515 million, up from $200.842 million at the beginning of the period[20]. - The company reported a weighted average of 43,523,631 common shares outstanding for the quarter, compared to 38,323,167 shares in the same quarter last year[14]. - Interest expense for the quarter was $2.264 million, up from $1.343 million in the previous year[14]. - The company incurred net losses of $11.2 million for the three months ended March 31, 2023, compared to $39.6 million for the same period in 2022, with an accumulated deficit of $607.6 million as of March 31, 2023[182]. Research and Development - The company incurred research and development expenses of $17.793 million for the quarter, compared to $12.585 million in the same quarter last year, reflecting increased investment in product development[14]. - Research and development expenses for AXS-05 were $6.7 million in Q1 2023, an increase from $6.0 million in Q1 2022[199]. - The company aims to become a fully integrated biopharmaceutical company developing differentiated therapies for CNS disorders[25]. - Axsome Therapeutics is developing three not yet approved product candidates (AXS-07, AXS-12, and AXS-14) for CNS conditions, addressing significant market needs[24]. - The company is currently conducting a Phase 3 trial for AXS-12 in narcolepsy, referred to as the SYMPHONY study[180]. - The company achieved the primary endpoint in the Phase 2/3 ADVANCE-1 trial for AXS-05 in Alzheimer's disease agitation[177]. - AXS-07 achieved the co-primary endpoints in both the Phase 3 MOMENTUM and INTERCEPT trials for the acute treatment of migraine[177]. - The company has received a complete response letter from the FDA regarding AXS-07, primarily related to chemistry, manufacturing, and controls[177]. Commercialization and Licensing - In February 2023, the company announced a licensing agreement with Atnahs Pharma UK Limited to market Sunosi in Europe and certain countries in the Middle East/North Africa[24]. - The company entered into a license agreement with Pharmanovia in February 2023, receiving a non-refundable upfront payment of €62.0 million ($65.7 million) and is eligible for sales-based milestone payments totaling up to €94.5 million[159]. - The company sells Sunosi and Auvelity in the U.S. through wholesale distributors and internationally through local distributors[40]. - The company expects expenses to increase primarily due to the commercialization of Sunosi and Auvelity while further developing its pipeline assets[29]. - The company expects to incur significant commercialization expenses for Sunosi and Auvelity to support their growth[182]. - For the three months ended March 31, 2023, net product sales were $12.9 million for Sunosi and $15.7 million for Auvelity[40]. - The company will receive a royalty percentage in the mid-twenties on net sales of the licensed products in the territory[191]. Assets and Liabilities - As of March 31, 2023, the company had an accumulated deficit of $607.6 million[28]. - The company recorded goodwill and an intangible asset as a result of the Sunosi acquisition, with goodwill deemed to have an indefinite life and tested annually for impairment[58]. - The fair value of the contingent consideration related to the Sunosi acquisition is recorded as $35.1 million as of March 31, 2023, down from $37 million at the end of 2022[105]. - The Company’s intangible asset net book value was $58.1 million as of March 31, 2023, with an estimated future amortization expense of $6.4 million for 2023[102]. - The total inventory as of March 31, 2023, was $22.4 million, compared to $18.0 million at December 31, 2022, reflecting an increase in raw materials and finished goods[111]. - The company reported net accounts receivable of $44.8 million as of March 31, 2023, an increase from $37.7 million at December 31, 2022[97]. - The company’s total outstanding debt increased to $150,000 million as of March 31, 2023, up from $95,000 million as of December 31, 2022, reflecting a 57.9% increase[129]. Future Outlook - The company expects revenues from Sunosi and Auvelity to fluctuate based on demand quarter to quarter[189]. - The company may continue to incur substantial operating losses even as it begins to generate revenues from its product candidates[28]. - The company has not recorded any allowances for doubtful accounts receivable as of March 31, 2023, despite receivables from the three largest customers totaling 47%, 24%, and 24% of the accounts receivable net balance[66]. - The company expects to pay up to $165 million based on revenue milestones and $1 million based on development milestones related to the Sunosi acquisition[87]. - The company must maintain a minimum cash requirement of $30 million as part of the loan agreement[117]. - The company is required to achieve at least 60% of net product revenue from specific products, including AXS-05, AXS-07, and Sunosi, starting from the reporting period ended June 30, 2023[121]. Stock and Compensation - The company has extended the maturity date of its loan agreement to January 1, 2028, with the possibility of extending to January 1, 2029, if certain revenue targets are met[117]. - The total compensation cost not yet recognized related to unvested Restricted Stock Units (RSUs) was $29.3 million as of March 31, 2023, expected to be recognized over a weighted-average period of 3.1 years[150]. - The Company reported total stock-based compensation expense of $12.9 million for the three months ended March 31, 2023, compared to $7.6 million for the same period in 2022, indicating a year-over-year increase of approximately 69.7%[152]. - The weighted average grant date fair value of options granted in the first quarter of 2023 was $51.44 per option, with a total unrecognized compensation cost related to non-vested stock options amounting to $160.3 million, expected to be recognized over 3.1 years[148]. - The Company has 1,241,793 shares available for issuance under its 2015 Omnibus Incentive Compensation Plan as of March 31, 2023[146]. - The outstanding warrants increased to 69,520 as of March 31, 2023, from 50,796 at the end of 2022, with a weighted average exercise price of $48.97[154].

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Q4 2022 Earnings Conference Call February 27, 2023 8:00 AM ET Company Participants Mark Jacobson - COO Herriot Tabuteau - Chairman & CEO Nick Pizzie - CFO Lori Englebert - EVP, Commercial and Business Development Hunter Murdock - General Counsel Conference Call Participants Charles Duncan - Cantor Fitzgerald Marc Goodman - SVB Securities Vikram Purohit - Morgan Stanley Jason Gerberry - Bank of America David Amsellem - Piper Sandler Joon Lee - Truist Securities Joseph ...