Axsome's Strategy on Payer Coverage Slowly Pays Off, Depression Drug Sales Show Growth

Axsome Therapeutics Inc (NASDAQ: AXSM) reported Q3 revenues of $57.8 million, up 244% Y/Y, beating the consensus of $54.75 million.

Auvelity (oral antidepressant) net product sales were $37.7 million, representing a 36% sequential increase versus the second quarter of 2023

Approximately 69,000 prescriptions were reported for Auvelity in Q3, up 30% Q/Q.

The previously announced expansion of the Auvelity sales force from 162 to 260 representatives is underway and expected to be completed in Q4 FY23. 

Also Read: FDA's Rejection of Sage/Biogen's Zuranolone Boosts Prospects for Axsome's Auvelity, Analyst Says.

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