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Axsome Therapeutics Narrows Loss in Q1

05/10/2021 04:01

07:57 AM EDT, 05/10/2021 (MT Newswires) -- Axsome Therapeutics (AXSM) reported Monday a Q1 net loss of $0.78 per share, compared with a loss of $0.88 per share a year ago. Analysts polled by Capital IQ expected a loss of $0.82 per share.

The company believes its $164.7 million in cash as of March 31, along with the remaining committed capital from the $225 million term loan facility, is sufficient to fund anticipated operations into at least 2024.

Axsome expects that its operating expenses will increase year over year as it continues to build out the commercial function and further advances its pipeline.

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