AXSOME THERAPEUTICS Reports 46.7M in Revenue and -67.2M Net Income for FY2023 Q2
August 16, 2023
🌥️Earnings Overview
For FY2023 Q2 (ending June 30 2023), AXSOME THERAPEUTICS ($NASDAQ:AXSM) reported total revenue of USD 46.7 million, a rise from the prior year’s total revenue of 8.8 million, and a net income of USD -67.2 million, an increase from the previous year’s -41.4 million.
Market Price
This resulted in an overall 3.5% decrease from their last closing price of 73.7, with the stock opening at $76.0 and closing at $71.1. Despite this decrease, investors remain optimistic that the company will see an increase in their profits soon. The company has recently made investments to improve their product portfolio and increase their international presence, which can likely result in higher sales and more profits.
Moreover, AXSOME THERAPEUTICS‘s strong balance sheet and financial flexibility provide them with the resources to realize their potential. With all these factors in consideration, investors are confident that the company will continue to exhibit positive growth in the future quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Axsome Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 182.49 | -184.45 | -95.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Axsome Therapeutics. More…
| Operations | Investing | Financing |
| -111.49 | -0.45 | 475.66 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Axsome Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 611.64 | 332.83 | 2.52 |
Key Ratios Snapshot
Some of the financial key ratios for Axsome Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -95.2% |
| FCF Margin | ROE | ROA |
| -61.3% | -55.6% | -17.8% |
Analysis
At GoodWhale, we provide a comprehensive analysis of AXSOME THERAPEUTICS‘s financials to help investors make informed decisions. Our Risk Rating for AXSOME THERAPEUTICS is high, indicating that it is a high risk investment in terms of financial and business aspects. We have detected 3 red flags in their income sheet, balance sheet, and cashflow statement. To learn more about these risk warnings and understand the implications of investing in AXSOME THERAPEUTICS, register on goodwhale.com. We provide detailed insights on their financials to help investors understand the risks they may be taking before investing. More…
Peers
The company’s lead product candidate, AXS-05, is in Phase III clinical development for treatment-resistant depression (TRD), and has completed Phase II clinical development for Alzheimer’s disease (AD) agitation. Provention Bio Inc, NGM Biopharmaceuticals Inc, Orphazyme AS are all companies focused on developing novel therapies for CNS disorders and are AXS-05’s main competitors in the market.
– Provention Bio Inc ($NASDAQ:PRVB)
Prevention Bio Inc is a clinical-stage biopharmaceutical company developing novel, best-in-class therapeutics for life-threatening infectious diseases with high unmet medical need. The company’s primary focus is on developing its lead product candidate, PB01, for the prevention and treatment of severe sepsis. PB01 is a first-in-class monoclonal antibody that targets a key protein involved in the body’s inflammatory response to infection. Prevention Bio is currently enrolling patients in a Phase 2 clinical trial of PB01 in patients with severe sepsis.
Prevention Bio’s market cap of $643.47 million and ROE of -80.87% reflect the company’s high potential and significant risk. Prevention Bio is a clinical-stage company, meaning its products are still in development and have not yet been approved for market. While the company’s lead product candidate, PB01, has shown promise in early clinical trials, it remains to be seen whether it will be safe and effective in larger trials and ultimately be approved for market. Given the significant risks associated with clinical-stage companies, investors are likely to require a higher return on their investment in Prevention Bio than in more established companies.
– NGM Biopharmaceuticals Inc ($NASDAQ:NGM)
NGM Biopharmaceuticals Inc is a clinical stage biopharmaceutical company. The company focuses on the discovery and development of novel therapeutic proteins for the treatment of serious diseases. NGM Biopharmaceuticals Inc has a market cap of 438.05M as of 2022, a Return on Equity of -28.16%. The company’s main products are in the areas of oncology, diabetes and obesity.
– Orphazyme AS ($OTCPK:OZYMF)
Orphazyme AS is a pharmaceutical company that focuses on the development of treatments for rare diseases. The company has a market cap of 5.56M as of 2022 and a Return on Equity of -845.21%. The company’s focus on rare diseases gives it a niche market, which allows it to charge higher prices for its products. However, the company’s high prices may limit its customer base and its ability to grow its business.
Summary
AXSOME THERAPEUTICS reported a steep increase in total revenue from 8.8 million to 46.7 million for the second quarter of FY2023 (ending June 30 2023). Despite this positive sign, the company had a net income of -67.2 million, an increase from -41.4 million in the same period last year. Consequently, the stock price of AXSOME THERAPEUTICS dropped the same day.
Investors should consider the overall financial performance of the company before investing in AXSOME THERAPEUTICS. They should pay attention to the company’s ability to generate profits over time, and its use of resources such as capital and personnel, to ensure long-term sustainability.
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