Axsome Therapeut SEC Filings

Axsome Therapeutics (AXSM) reported Q3 2025 results showing strong top-line growth while continuing to invest in commercialization. Total revenues were $170.992M, up from $104.762M a year ago, driven by product sales of $169.784M.

Operating expenses rose to $217.101M as selling, general and administrative costs increased with broader market presence, including advertising of $41.4M in the quarter. The company posted a net loss of $47.229M versus $64.602M last year, narrowing losses as scale improves. Cash and cash equivalents were $325.272M at quarter-end, supporting ongoing commercialization and pipeline work.

Axsome ended the quarter with $595.523M in total liabilities, including a new first‑lien term loan of $120.0M and a revolving credit facility balance of $70.0M under its Blackstone agreement (Term Loans at SOFR + 4.75%, Revolver at SOFR + 4.00%). Shares outstanding were 50,307,834 as of September 30, 2025; 50,412,640 were outstanding as of October 27, 2025.

Axsome Therapeutics furnished a press release announcing financial results for the three months ended September 30, 2025, along with an operations update. The release is attached as Exhibit 99.1 and, under General Instruction B.2, is furnished and not deemed filed. The company also filed an updated corporate presentation as Exhibit 99.2 and posted it to its website.

Axsome Therapeutics, Inc. Chief Executive Officer and director Herriot Tabuteau exercised a series of stock options that were expiring and sold the resulting shares under a pre-approved 10b5-1 plan between 10/06/2025 and 10/08/2025. The filings show exercises of 45,384 option shares in total (19,220 on 10/06/2025, 13,390 on 10/07/2025, and 12,774 on 10/08/2025) at exercise prices around $118–$121 per option, resulting in reported open-market sale proceeds with weighted average sale prices of $120.17, $118.77, and $118.84 respectively. After these transactions, the reporting person directly owned 7,229 shares and indirectly held 7,344,500 shares through an entity where they have voting and dispositive power. The exercises were necessary because the options reached their 10‑year expiration and were executed under the 10b5-1 plan.

Axsome Therapeutics, Inc. (AXSM) submitted a Rule 144 notice reporting a proposed sale of 12,774 shares of common stock through Goldman Sachs & Co. LLC, with an aggregate market value of $1,516,401.54. The filer reports the shares were acquired on 05/27/2016 as compensation via stock options and that the planned sale method is a cashless exercise/same-day sale.

The form also lists multiple sales by the same person during the past three months: 09/12/2025 (27,907 shares), 09/15/2025 (15,254 shares), 09/16/2025 (19,719 shares), 10/06/2025 (19,220 shares), and 10/07/2025 (13,390 shares), with individual gross proceeds shown for each transaction. The notice includes the required certification that the seller is not aware of material nonpublic information about the issuer.

Axsome Therapeutics, Inc. insider filing reports a proposed sale of 13,390 shares of common stock through Goldman Sachs & Co. LLC with an aggregate market value of $1,588,589.60, intended for sale on 10/07/2025. The filing states there are 49,901,487 shares outstanding, and the shares to be sold were acquired on 05/27/2016 as compensation via stock options with a cashless exercise/same-day sale payment.

The notice also discloses multiple insider sales in the prior three months by Herriot Tabuteau: 19,220 shares on 10/06/2025, 27,907 on 09/12/2025, 15,254 on 09/15/2025, and 19,719 on 09/16/2025, totaling 82,100 shares and gross proceeds shown in the filing. The filer affirms no undisclosed material nonpublic information and references Rule 144 procedures.

Notice of proposed sale of common stock by an insider. The filing reports a proposed sale of 19,220 shares of common stock through Goldman Sachs & Co. LLC with an aggregate market value of $2,305,246.80. The filer indicates the shares were originally acquired on 05/27/2016 as compensation via stock options and were exercised in a cashless exercise / same-day sale on the acquisition date. The issuer shows 49,901,487 shares outstanding and the proposed sale date is 10/06/2025. The filing also discloses three recent open-market sales by the same person in 09/2025 totaling 62,880 shares for gross proceeds of $7,105,964.54. The signer affirms they are not aware of undisclosed material adverse information and references Rule 10b5-1 procedures, though no plan adoption date is provided.

Mark L. Jacobson, Chief Operating Officer and director of Axsome Therapeutics (AXSM), reported option exercise and a subsequent sale on 09/22/2025. He exercised 10,000 stock options with an exercise price of $2.85 per share, acquiring 10,000 shares. Those shares were then sold in open market transactions at a weighted average price of $115.96 per share, leaving him with 0 shares beneficially owned following the transactions. The filing states the exercise was necessary because the options were reaching their 10-year expiration and that both the exercise and sale were made pursuant to a pre-approved Rule 10b5-1 plan which has now completed.

Axsome Therapeutics, Inc. (AXSM) Form 144 notice reports a proposed sale of 10,000 common shares through Charles Schwab with an aggregate market value of $1,159,571, based on approximately 49,901,487 shares outstanding. The shares were acquired on 09/22/2025 through an employee stock option exercise and the payment method is listed as a broker payment for cashless exercise. The filing also discloses a prior sale by Mark L. Jacobson of 45,783 shares on 09/16/2025 generating $5,241,305 in gross proceeds. The filer affirms no undisclosed material adverse information and includes standard Rule 144 representations.

Mark L. Jacobson, Chief Operating Officer of Axsome Therapeutics, Inc. (AXSM), reported option exercises and open-market sales on 09/16/2025. He exercised two stock option grants: 25,000 shares at $4.95 (issued 03/15/2018) and 15,000 shares at $4.85 (issued 09/13/2018), generating 40,000 underlying shares. All 40,000 shares were subsequently sold in open-market transactions under a pre-approved 10b5-1 plan for weighted average prices of $116.19 and $114.23, resulting in no shares owned following the sales. The exercises were necessary due to the options approaching their 10-year expiration.