Axsome Therapeutics Q3 2024: Growth in Sleep Medicine and Advancements in Clinical Trials - News Directory 3

Axsome Therapeutics Q3 2024: Growth in Sleep Medicine and Advancements in Clinical Trials

November 15, 2024 Catherine Williams Health
News Context
At a glance
  • Axsome Therapeutics shared strong growth in its sleep medicine portfolio in the third quarter of 2024, driven largely by increased use of its wake-promoting drug, Sunosi.
  • Development Pipeline: Axsome is working on five late-stage, patent-protected products for nine psychiatric and neurological conditions.
  • Recent Presentations: In September, Axsome presented findings at Sleep Europe 2024, sharing data from the SYMPHONY phase 3 trial for AXS-12 and insights from the CRESCENDO patient survey.
Original source: sleepreviewmag.com

Summary of Axsome Therapeutics Q3 2024 Report

Axsome Therapeutics shared strong growth in its sleep medicine portfolio in the third quarter of 2024, driven largely by increased use of its wake-promoting drug, Sunosi. The company also reported progress in clinical trials for AXS-12, aimed at treating narcolepsy, and solriamfetol, focused on shift work disorder, ADHD, and other conditions. Major trial results are expected by the end of 2024 and into 2025.

Key Highlights:

  1. Sunosi Sales Growth:

    • Sunosi generated $24.4 million in revenue for Q3 2024.
    • This marks a 21% increase year-over-year and a 15% rise in prescriptions compared to Q3 2023.

  2. Progress in Narcolepsy Trials:

    • Axsome is advancing its phase 3 ENCORE trial for AXS-12, with top-line results expected in Q4 2024.
  3. Shift Work Disorder Study:
    • The company is working on the phase 3 SUSTAIN study for solriamfetol, aiming for results in 2026.

Sunosi Sales Details:

  • Q3 2024 Sunosi revenue included $23.4 million in product sales and $1 million in royalty revenue from out-licensed areas.
  • In 2023, Sunosi revenue was $20.1 million.
  • Around 47,000 prescriptions for Sunosi were filled in the US during Q3 2024, marking a 15% increase from Q3 2023.

Payer Coverage for Sunosi:

  • Approximately 83% of all covered lives have access to Sunosi.
  • Coverage for commercial channels is around 95%, while it is about 60% for government channels.

Development Pipeline:
Axsome is working on five late-stage, patent-protected products for nine psychiatric and neurological conditions. Focus areas include narcolepsy and excessive sleepiness from shift work disorder.

AXS-12 (Reboxetine):

  • This drug is a potent norepinephrine reuptake inhibitor being tested for narcolepsy.
  • The ENCORE trial is complete, and results are anticipated in Q4 2024.

Solriamfetol:

  • This drug has multiple indications, including ADHD and excessive sleepiness related to shift work disorder.
  • Axsome is currently running the SUSTAIN study, with results expected in 2026.

Recent Presentations:
In September, Axsome presented findings at Sleep Europe 2024, sharing data from the SYMPHONY phase 3 trial for AXS-12 and insights from the CRESCENDO patient survey.

Company Outlook:
Axsome aims to deliver innovative treatments for central nervous system disorders, emphasizing its readiness to execute its plans and create value for shareholders.