Axsome Therap

Q2 FY2026 EarningsQ2 FY2026 performance was mixed, with revenue of $218.4M missing the $221.8M consensus by 1.5%. Despite the top-line miss, AUVELITY® sales grew 51% YoY to $180.3M, and GAAP EPS of -$0.99 missed the -$0.89 consensus primarily due to heavy SG&A spending ($208.1M) linked to new product launches. Management provided an optimistic outlook for cash runway, expecting current reserves to fund operations until cash flow positivity.