AXSM Stock — Axsome Therapeutics Inc.: Cash, EV, Pipeline

Share price

$207.78

Market cap

$10,883.7M

Cash

$319.9M

Enterprise value

$10,681.8M

Balance sheet

Cash	$319.9M
Debt	$118.0M
Net cash	$201.9M
Enterprise value	$10,681.8M
Basic shares	52.3M shares
Fully diluted shares	61.4M shares
Fully diluted market cap	$12,753.9M
Cash per share	$6.12

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	Solriamfetol 150 mg	Phase 3	Binge-Eating Disorder	Q4 2026
Jan 12 - Feb 23	Solriamfetol 150 mg	Phase 3	Excessive Sleepiness; Shift-work Disorder	Q4 2026
Jan 12 - Feb 23	Solriamfetol	Phase 3	Binge-Eating Disorder	Q4 2026
Jan 12 - Feb 23	AXS-05 (dextromethorphan-bupropion)	Phase 3	Smoking Cessation	—
Jan 12 - Feb 23	Solriamfetol	Phase 3	ADHD	—
Apr 12 - May 24	AXS-14 (Esreboxetine)	Phase 3	Fibromyalgia	—
Jun 12 - Jul 24	AXS-14 (esreboxetine)	Phase 3	Fibromyalgia	—
Aug 11 - Sep 22	Solriamfetol Dose A	Phase 3	ADHD	—
Aug 11 - Sep 22	Solriamfetol Dose A	Phase 3	ADHD	—
Jan 12 - Feb 23	Solriamfetol 150 MG	Phase 3	Major Depressive Disorder With Excessive Daytime Sleepiness Symptoms	Q4 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

AUVELITY

Approved · Active Modality: oral

Aliases AXS-05, dextromethorphan-bupropion

Target NMDA receptor

Partnerships Antecip Bioventures II LLC (CEO-owned): 3.0% royalty on AUVELITY net sales

Indications

Major depressive disorder (MDD) (Approved)
Agitation associated with dementia due to Alzheimer’s disease (AADDAD) (Approved)

Status note FDA approved for MDD Aug 2022; FDA approved for AADDAD Apr 2026 (launched Jun 2026). Additional indications for AXS-05 in development (not specified in excerpts).

SUNOSI

Approved · Active Modality: oral

Aliases solriamfetol

Target DNRI / TAAR1 / 5-HT1A

Partnerships Jazz (acquired US rights May 2022, ex-US Nov 2022): high single-digit US royalty + milestones; SK Biopharmaceuticals/Aerial: tiered single-digit royalties + up to $162.5M revenue milestones; Pharmanovia (Atnahs): license for Europe and MENA (Feb 2023)

Indications

Excessive daytime sleepiness in OSA or narcolepsy (Approved)

Status note FDA approved Mar 2019; EC Jan 2020; Health Canada May 2021. Additional indications for solriamfetol in development (not specified in excerpts).

SYMBRAVO

Approved · Active Modality: oral

Aliases AXS-07, MoSEIC meloxicam-rizatriptan

Target COX-2 / 5-HT1B/1D

Indications

Migraine (acute) (Approved)

Status note FDA approved Jan 2025; commercial availability Jun 2025.

AXS-17

Stage not disclosed · Active Modality: oral

Target GABAA receptor α2,3 subtype

Indications

Epilepsy (Stage not disclosed)

Status note Oral GABAA α2,3 subtype-selective positive allosteric modulator (PAM); global rights acquired Nov 2025; planned evaluation in epilepsy.

AXS-20

Stage not disclosed · Active

Target PDE10A

Indications

Schizophrenia (Stage not disclosed)
Tourette syndrome (Stage not disclosed)

Status note Selective PDE10A inhibitor; acquired Q1 2026; initially planned for schizophrenia and Tourette syndrome.

Deuterium-stabilized S-bupropion

Stage not disclosed · Active

Indications

Smoking Cessation (Phase 3)
Major Depressive Disorder (Phase 3)

Status note Global rights acquired Dec 2025; indication and phase not stated in excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-10. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Solriamfetol 150 mg
Lead indication	Binge-Eating Disorder
Lead phase	Phase 3
Active trials	12
Collaborator trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06413433	Phase 3	Recruiting	Sponsor	AXSM	—	Binge-Eating Disorder	Q4 2026
NCT06568367	Phase 3	Recruiting	Sponsor	AXSM	—	Excessive Sleepiness; Shift-work Disorder	Q4 2026
NCT06878976	Phase 3	Enrolling by invitation	Sponsor	AXSM	—	Binge-Eating Disorder	Q4 2026
NCT07766655	Phase 3	Recruiting	Sponsor	AXSM	—	Smoking Cessation	—
NCT07773883	Phase 3	Enrolling by invitation	Sponsor	AXSM	—	ADHD	—
NCT07398417	Phase 3	Recruiting	Sponsor	AXSM	—	Fibromyalgia	—
NCT07637162	Phase 3	Enrolling by invitation	Sponsor	AXSM	—	Fibromyalgia	—
NCT07717879	Phase 3	Recruiting	Sponsor	AXSM	—	ADHD	—
NCT07717892	Phase 3	Recruiting	Sponsor	AXSM	—	ADHD	—
NCT07484217	Phase 3	Recruiting	Sponsor	AXSM	—	Major Depressive Disorder With Excessive Daytime Sleepiness Symptoms	Q4 2026
NCT06413420	Not disclosed	Recruiting	Sponsor	AXSM	—	Narcolepsy; Obstructive Sleep Apnea; Pregnant Women and Their Offspring	—
NCT06223880	Not disclosed	Recruiting	Sponsor	AXSM	—	Major Depressive Disorder	—

Sponsor-matched active trials from ClinicalTrials.gov (12 as sponsor, 2 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 14 active trials for Axsome Therapeutics, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
OrbiMed Advisors	117,578	-96,343	0.55%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

AXSM — Axsome Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders