Axsome Therapeutics (AXSM) investor relations material

Commercial performance and strategy

• Q2 net sales reached $150 million, with Auvelity contributing $120 million and Sanofi $30 million; Symbravo launched with $400,000 in initial sales.

• Expansion of the sales force and improved coverage led to weekly MBRXs rising from 2,000 to 2,500, with 28 million additional lives covered as of July 1.

• National direct-to-consumer campaign for Auvelity launched, expected to drive further growth in the second half of the year.

• Symbravo's launch focused on headache specialists, with positive early feedback and a disciplined investment approach.

• Field force expansion is planned for 2026, targeting primary care and long-term care markets.

Product utilization and market access

• About 50% of Auvelity use is in first line or first switch, with over 50% as monotherapy, reflecting earlier adoption in the treatment paradigm.

• Coverage improvements have facilitated easier access and maintained net pricing, with 83% of lives now covered and potential for further increases.

• Seasonal trends impact Q3, but expectations are for growth to resume post-Labor Day as coverage and campaigns take effect.

Research and development pipeline

• sNDA for AXS-05 in Alzheimer’s disease agitation filed in Q3, with FDA acceptance decision pending; NDA for AXS-12 in narcolepsy planned for Q4.

• Four clinical programs for Sunosi are ongoing, with new trials in ADHD, major depressive disorder, binge eating disorder, shift work disorder, fibromyalgia, and smoking cessation planned.