Axsome Therapeutics, Inc. (AXSM) SEC Filings

Axsome Therapeutics, Inc. (AXSM) discloses a planned sale of 10,000 shares of Class A common stock for the account of Mark Jacobson through Goldman Sachs & Co. LLC under Rule 144. The notice estimates an aggregate market value of about $2,083,500 and lists approximately 52,380,818 shares outstanding.

The shares were acquired on March 19, 2019 as compensation via stock options and are to be sold via a cashless exercise / same-day sale. The sales are made pursuant to a selling plan dated June 2, 2026 intended to comply with Rule 10b5-1(c), with an expected sale date around September 3, 2026.

Axsome Therapeutics reported continued strong top-line growth but remained unprofitable for the quarter ended June 30, 2026. Total revenues for the quarter were $218.4 million, up from $150.0 million a year earlier, driven primarily by product sales of $216.4 million. For the first six months of 2026, revenues were $409.6 million versus $271.5 million in the prior-year period, reflecting the commercial ramp of AUVELITY, SUNOSI, and SYMBRAVO and new AADDAD and migraine launches.

Expenses increased significantly as Axsome scaled its commercial and R&D operations. Total operating expenses for the first half were $522.6 million compared with $365.2 million a year ago, including selling, general and administrative costs of $393.1 million and research and development of $98.9 million. The company recorded a six‑month operating loss of $113.0 million and a net loss of $115.9 million, with an accumulated deficit of $1,421.8 million.

Axsome ended the quarter with $319.9 million in cash and cash equivalents, total assets of $761.4 million, and total liabilities of $678.1 million, including a $120.0 million term loan and $70.0 million drawn on its revolving credit facility. Management states that existing cash is expected to fund anticipated operating requirements for at least twelve months while commercialization and pipeline investments continue.

Axsome Therapeutics reported strong growth for the three months ended June 30, 2026, with total net product revenue of $218.4 million, up 46% from $150.0 million a year earlier. AUVELITY led with $180.3 million in net product sales, a 51% year-over-year increase, while SUNOSI generated $35.8 million in net product revenue, up 20%, and SYMBRAVO reached $2.3 million, up 461%.

Despite the revenue growth, Axsome recorded a net loss of $51.3 million (vs. $48.0 million), or $(0.99) per share, driven largely by a 60% rise in SG&A expenses to $208.1 million as the company expanded commercialization activities, including AUVELITY’s June launch for agitation in Alzheimer’s disease. R&D expenses declined modestly to $46.2 million. Cash and cash equivalents totaled $319.9 million at June 30, 2026, compared with $322.9 million at year-end 2025, and Axsome states this cash is sufficient to fund operations into cash flow positivity under its current plan. Strategically, the NDA for AXS-12 in narcolepsy was accepted with a PDUFA target action date of May 1, 2027, multiple Phase 3 solriamfetol trials in ADHD, binge eating disorder, and shift work disorder are underway, and management highlights an industry-leading neuroscience pipeline and significant long-term commercial potential.

Axsome Therapeutics, Inc. CEO and 10% owner Herriot Tabuteau exercised expiring stock options on August 5–6, 2026 to acquire 49,664 common shares, then sold an equal number in open‑market trades at weighted average prices of $212.0100 and $213.9500 per share. The trades were executed under a pre‑approved Rule 10b5‑1 plan that is now completed. Tabuteau remains the indirect beneficial owner of 7,344,500 shares held through an entity over which he has voting and dispositive power.

AXSM received a notice of proposed sale of restricted or control securities. A holder plans to sell 4,660 shares of common stock through Goldman Sachs & Co. LLC, with an aggregate market value of $979,205.80, on or after August 6, 2026 on NASD. These shares were acquired on March 15, 2017 as compensation via stock options and will be sold through a cashless exercise/same-day sale transaction.

The filing also lists prior sales of AXSM common stock by Herriot Tabuteau during the preceding three months, including several transactions of 24,833–24,835 shares each on June 9, July 1, and August 5, 2026, with aggregate values in the $4.26–$6.02 million range.

Axsome Therapeutics insider Herriot Tabuteau has filed a Form 144 indicating an intention to sell up to 45,004 shares of common stock through Goldman Sachs & Co. LLC, with an approximate sale date of August 5, 2026 on NASD. The filing lists the shares as originally acquired on March 15, 2017 as compensation via stock options, with the planned transaction structured as a cashless exercise / same-day sale.

The disclosure also notes prior open-market activity during the past three months, including sales of 24,835 shares of common stock on June 9, 2026 and 24,833 shares on July 1, 2026, each with multi‑million market values. Shares outstanding are listed as 51,459,766, providing context for the scale of the planned sale.

BlackRock, Inc. filed Amendment No. 5 reporting its beneficial ownership of common stock of Axsome Therapeutics, Inc.. BlackRock reports beneficial ownership of 2,736,503 shares of Axsome common stock, representing 5.3% of the outstanding class as of the reporting date.

BlackRock has sole voting power over 2,649,256 shares and sole dispositive power over 2,736,503 shares, with no shared voting or dispositive power. Various underlying clients and investors may have rights to dividends or sale proceeds, but no single such person has more than five percent of Axsome’s outstanding common shares.

Axsome Therapeutics announced that the U.S. Food and Drug Administration has accepted for filing the New Drug Application (NDA) for AXS-12 (reboxetine) for the treatment of cataplexy in narcolepsy. The FDA set a Prescription Drug User Fee Act (PDUFA) target action date of May 1, 2027 and indicated it does not currently plan to hold an advisory committee meeting on the application.

AXS-12 is described as a highly selective and potent norepinephrine reuptake inhibitor and cortical dopamine modulator under development for narcolepsy and has U.S. Orphan Drug Designation. Narcolepsy is characterized by excessive daytime sleepiness and cataplexy, which occurs in an estimated 70% of patients and is linked to a 1.5-fold higher mortality rate.

Axsome Therapeutics CEO Herriot Tabuteau exercised stock options and sold the resulting shares in a pre-planned transaction. He exercised 49,666 stock options at a strike price of $4.95 per share and received an equal number of common shares.

On the same date, he sold 49,666 common shares in the open market at a weighted average price of $240.25 per share, with individual sale prices ranging from $237.64 to $244.71, under a pre-approved Rule 10b5-1 trading plan. Following these transactions, he holds 7,229 common shares directly and 7,344,500 shares indirectly through an entity over which he has voting and dispositive power. The filing notes the option exercise was necessary because the options were approaching their 10-year expiration date, and no derivative options from this grant remain outstanding.