Today, Axsome Therapeutics announced third quarter financial results. The results were positive as noted below.
- Total revenue was $104 million, their first quarter over $100 million
- Revenue exceeded analyst estimates, which were expecting $98 million
- Alzheimer's data to be released as previously guided in this 4th quarter
- Alzheimer's data for the two trials will be released simultaneously
- ADHD data to be released in the first quarter of 2025
- $325 million of cash on hand, end of the third quarter
The important information learned, is that the Alzheimer's clinical trial results will be released prior to years end 2024. Chart of Axsome below, as the stock had a strong day, and closed at $99.49 per share.
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