Catalyst Dossier · compiled by CeliA 🧫

Axsome Therapeutics, Inc. (AXSM)

Pharmaceutical Preparations · market cap $12.9B · as of 2026-06-26

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-08-03

Earnings

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Axsome Therapeutics (AXSM) is a commercial-stage CNS pharmaceutical company with a market cap of ~$12.2B and approximately 816 employees. The company generated $638M in revenue in 2025 while still running a net loss of $183M, with a deep late-stage pipeline spanning depression, agitation in Alzheimer's, narcolepsy, migraine, fibromyalgia, binge-eating disorder, and excessive sleepiness. The highest-near-term binary catalyst is a Phase 3 readout for Solriamfetol 150 mg in excessive sleepiness, estimated around December 2026.

The catalyst path

2026-08-03Earningsimp 5/10
2026-12-15 (est.)Phase 3 · Solriamfetol 150 mgimp 9/10

Pipeline

Asset	Phase	Indication
AXS-05	Phase 3	Agitation in Patients With Dementia of the Alzheimer's Type
AXS-12 (reboxetine)	Phase 3	Narcolepsy
Solriamfetol 150 mg	Phase 3	Excessive Sleepiness
AXS-05 (dextromethorphan and bupropion) oral tablets	Phase 3	Major Depressive Disorder
Solriamfetol 300 mg	Phase 3	Binge-Eating Disorder
AXS-07	Phase 3	Migraine
AXS-07 (MoSEIC meloxicam and rizatriptan)	Phase 3	Migraine
AXS-07 (meloxicam-rizatriptan)	Phase 3	Migraine
AXS-14 (Esreboxetine)	Phase 3	Fibromyalgia
Bupropion	Phase 3	Major Depressive Disorder
AXS-05 (dextromethorphan-bupropion)	Phase 3	Treatment Resistant Depression

Price & technical context

3-month

+42.4%

6-month

+59.7%

12-month

+131.6%

52-wk range

$100.39–$255.17

vs 50-day MA

+5.8%

vs 200-day MA

+39.1%

Realized vol

43.3%

Max drawdown

-30.6%

Daily closes through 2026-07-01. Realized vol annualized; max drawdown over ~2 years.

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Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for AXSM (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 11 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.