Credit and interest ratesnegative · 3 filings
“The decrease was due to lower interest expense from the Blackstone Loan Agreement, which was partially offset by less interest income from lower interest rates.”10-Q · Aug 10, 2026 ↗
Axsome Therapeutics, Inc.
AXSM
Market read
Axsome Therapeutics, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 15 directly disclosed connections are confirming.
Company+5.0% todayVolume comparison unavailable
Market group0 of 1 activeCNS Biotech · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Inventory grew more than twice as fast as revenue, increasing the amount of product carried on the balance sheet.
- Six-month cost growth included asset acquisition costs related to AXS-20, partly offset by lower AXS-05 spending.
Invalidation: The isolated read changes if AXSM's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 15 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Inventory grew more than twice as fast as revenue, increasing the amount of product carried on the balance sheet.
- Six-month cost growth included asset acquisition costs related to AXS-20, partly offset by lower AXS-05 spending.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods4
Price observations327
Usable filing statements95
Verified relationships15
Evidence supporting the case
- Latest annual revenue changed +65.5% year over year.
- Operating margin changed +46.6 percentage points in the latest annual period.
- Net margin changed +45.8 percentage points in the latest annual period.
Evidence challenging the case
- Diluted shares increased 3.8% in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 3 filings.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
211.216m+32.4%12m+68.1%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-12-31$50.0M—$-4.60—
2023-12-31$270.6M+440.8%$-5.27+11.7%
2024-12-31$385.7M+42.5%$-5.99+5.5%
2025-12-31$638.5M+65.5%$-3.68+3.8%
What management says matters
Persistent and emerging business drivers
Product pipeline and R&Dmixed · 3 filings
“The increase was primarily due to higher selling, general and administrative expenses from commercial activities for AUVELITY, including a national direct-to-consumer advertising campaign and sales force expansion, commercial activities for SYMBRAVO, and high…”10-Q · May 4, 2026 ↗
Legal and regulatory exposurenegative · 2 filings
“Vesting of the PSUs is subject to achievement of specified performance goals, which include achieving revenue, clinical, and regulatory targets.”10-K · Feb 23, 2026 ↗
Tariffs and trade policynegative · 2 filings
“In general, the U.S.”10-Q · Aug 10, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 16.5× · EV/sales 16.1×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
221.05+5.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:10 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for AXSM. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for AXSM. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind AXSM
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ABBVAbbVie Inc.competitorMay 4, 2026 ▾
“Among the companies that currently market or are developing therapies that, if approved, our product candidates would potentially compete with include: AbbVie; Amgen Inc.; Avadel Pharmaceuticals plc; Biogen Inc.; Eli Lilly and Company; H.”
AMGNAmgen Inc.competitorMay 4, 2026 ▾
“Among the companies that currently market or are developing therapies that, if approved, our product candidates would potentially compete with include: AbbVie; Amgen Inc.; Avadel Pharmaceuticals plc; Biogen Inc.; Eli Lilly and Company; H.”
Depended on by
DFTXDefinium Therapeutics, Inc.competitorFeb 26, 2026 ▾
“In addition, DT120 ODT would likely face competition from Axsome Therapeutics Inc.’s (“Axsome”) Auvelity, approved for the treatment of MDD.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 17 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
AXSM is currently a Leader in the organic co-movement group CNS Biotech. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for AXSM; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.