Core Insights - Axsome Therapeutics reported an adjusted loss of $0.97 per share in Q2 2025, which is an improvement from a loss of $1.67 per share in the same quarter last year and better than the Zacks Consensus Estimate of a loss of $1.00 [1][6] - The company's total revenues increased by 72% year over year to $150 million in Q2 2025, surpassing the Zacks Consensus Estimate of $140 million, primarily driven by strong sales of Auvelity [1][6] Revenue Breakdown - Total revenues for Q2 2025 included product revenues from Auvelity, Sunosi, and Symbravo, along with royalty revenues, with net product revenues reaching $148.9 million compared to $86.5 million in the previous year [3] - Auvelity sales amounted to $119.6 million, reflecting an 84% year-over-year increase and a 24% sequential increase, exceeding the model estimate of $111.8 million [4][6] - Sunosi's net product sales were $30 million in Q2 2025, up 35% from the previous year, with total prescriptions growing 13% year over year to 50,000 [7] Pipeline Developments - Axsome is planning several late-stage studies and regulatory filings for AXS-05, AXS-12, AXS-14, and solriamfetol, including a supplemental new drug application for AXS-05 targeting Alzheimer's disease agitation [6][11] - AXS-12 is being developed for narcolepsy, with plans to submit a new drug application for treating cataplexy in Q4 2025 [12] - The company is also evaluating solriamfetol in phase III studies for ADHD and MDD, with studies expected to start in Q4 2025 [14][15] Financial Overview - Research and development expenses were $49.5 million, down 0.8% from the previous year, while selling, general, and administrative expenses rose by 25.8% to $130.3 million due to increased commercial activities [9][10] - As of June 30, 2025, Axsome had cash and cash equivalents of $303 million, slightly up from $300.9 million at the end of Q1 2025 [10]