Axsome's Auvelity: High Hopes Meet Hefty Bills (Rating Downgrade)
Axsome Therapeutics(AXSM) Seeking Alpha·2024-08-07 03:45
J Studios Introduction My last look at Axsome Therapeutics, Inc. (NASDAQ:AXSM) followed their Q4 2023 earnings report, in which Auvelity (dextromethorphan-bupropion), the company's lead asset targeting depression, achieved $49 million in revenue for the quarter and $130.1 million for full-year 2023. However, I pointed out that, despite these revenue increases, Axsome's losses were widening as SG&A expenses doubled. My final recommendation was "hold," noting "strong revenue growth and solid market sentiment, ...