Axsome Therapeutics Sets Revenue Expectations for Q4 and FY24

Axsome Therapeutics (NASDAQ:AXSM) has announced its projections for product revenues for the fourth quarter (Q4) of the fiscal year and for the full year of 2024. The company expects total product revenue to reach approximately $118.3 million for Q4 and $385.2 million for the entire fiscal year of 2024.

This forecast is slightly above analyst consensus estimates, which predict revenues of $117.37 million for Q4 and $384.06 million for FY24.

Moreover, Axsome anticipates that net product sales from its drug Auvelity will amount to about $92.6 million for Q4 and $291.4 million for the full fiscal year.

Market Response and Implications

The projections provided by Axsome Therapeutics indicate a positive outlook for the company as it continues to navigate the competitive landscape in the pharmaceutical industry. Investors and market analysts will be closely watching the company’s performance in the upcoming quarters to see if these projections hold true.

Conclusion

As Axsome prepares for its fiscal year 2024, the expectations of marginally higher revenues compared to consensus may boost investor confidence. The focus will remain on the company's sales strategies and market presence, particularly with its flagship product, Auvelity.

Axsome, Revenue, Projections