$AXSM
Axsome Therapeutics, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023039178 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $57.79M $46.70M $8.820M
YoY Change 243.08% 429.49%
Cost Of Revenue $6.530M $4.599M $982.8K
YoY Change 243.68% 367.93%
Gross Profit $51.26M $42.10M $7.837M
YoY Change 242.97% 437.21%
Gross Profit Margin 88.69% 90.15% 88.86%
Selling, General & Admin $83.19M $78.94M $31.16M
YoY Change 103.43% 153.32% 90.65%
% of Gross Profit 162.29% 187.49% 397.61%
Research & Development $28.77M $20.58M $15.79M
YoY Change 93.37% 30.32% 8.89%
% of Gross Profit 56.12% 48.88% 201.51%
Depreciation & Amortization $1.750M $1.689M $993.4K
YoY Change 8.91% 70.02% 12195.05%
% of Gross Profit 3.41% 4.01% 12.68%
Operating Expenses $112.0M $99.52M $47.02M
YoY Change 100.75% 111.66% 52.42%
Operating Profit -$62.12M -$65.06M -$39.18M
YoY Change 46.47% 66.04%
Interest Expense -$760.0K -$2.730M -$2.257M
YoY Change -68.48% 20.93% 57.15%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$62.88M -$67.79M -$41.44M
YoY Change 40.28% 63.58% 28.36%
Income Tax -$700.0K -$600.0K
% Of Pretax Income
Net Earnings -$62.20M -$67.17M -$41.44M
YoY Change 38.77% 62.1% 28.36%
Net Earnings / Revenue -107.62% -143.83% -469.84%
Basic Earnings Per Share -$1.32 -$1.54 -$1.06
Diluted Earnings Per Share -$1.32 -$1.54 -$1.060M
COMMON SHARES
Basic Shares Outstanding 47.19M 43.57M 38.91M
Diluted Shares Outstanding 47.12M 43.67M 39.08M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $416.6M $437.1M $73.39M
YoY Change 83.1% 495.57% -48.03%
Cash & Equivalents $416.6M $437.1M $73.39M
Short-Term Investments
Other Short-Term Assets $6.800M $5.911M $4.091M
YoY Change 176.7% 44.47% 838.82%
Inventory $9.985M $9.252M $10.32M
Prepaid Expenses
Receivables $78.42M $67.41M $16.17M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $511.8M $519.7M $104.0M
YoY Change 102.77% 399.81% -26.6%
LONG-TERM ASSETS
Property, Plant & Equipment $971.0K $736.0K $1.302M
YoY Change 54.87% -43.48% 0.75%
Goodwill $12.04M $12.04M
YoY Change 1.22%
Intangibles $54.89M $56.50M
YoY Change -10.4%
Long-Term Investments
YoY Change
Other Assets $14.10M $15.26M $507.5K
YoY Change 13.73% 2907.53% 59.89%
Total Long-Term Assets $89.09M $91.95M $76.58M
YoY Change 2.91% 20.07% 4657.02%
TOTAL ASSETS
Total Short-Term Assets $511.8M $519.7M $104.0M
Total Long-Term Assets $89.09M $91.95M $76.58M
Total Assets $600.9M $611.6M $180.6M
YoY Change 77.27% 238.75% 26.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.10M $42.96M $19.43M
YoY Change 126.54% 121.08% 67.34%
Accrued Expenses $78.90M $65.67M $17.19M
YoY Change 95.11% 282.06% 52.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $114.7M $115.0M $42.57M
YoY Change 90.21% 170.08% 86.19%
LONG-TERM LIABILITIES
Long-Term Debt $177.4M $176.8M $93.46M
YoY Change 88.95% 89.2% 91.19%
Other Long-Term Liabilities $39.20M $41.04M $29.33M
YoY Change 43.07% 39.92% 35729.97%
Total Long-Term Liabilities $177.4M $176.8M $122.8M
YoY Change 88.95% 44.0% 151.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $114.7M $115.0M $42.57M
Total Long-Term Liabilities $177.4M $176.8M $122.8M
Total Liabilities $331.3M $332.8M $165.4M
YoY Change 82.46% 101.28% 130.22%
SHAREHOLDERS EQUITY
Retained Earnings -$736.9M -$674.7M
YoY Change 37.71%
Common Stock $1.006B $953.5M
YoY Change 45.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $269.5M $278.8M $15.20M
YoY Change
Total Liabilities & Shareholders Equity $600.9M $611.6M $180.6M
YoY Change 77.27% 238.75% 26.03%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$62.20M -$67.17M -$41.44M
YoY Change 38.77% 62.1% 28.36%
Depreciation, Depletion And Amortization $1.750M $1.689M $993.4K
YoY Change 8.91% 70.02% 12195.05%
Cash From Operating Activities -$53.55M -$55.35M -$33.54M
YoY Change 135.3% 65.04% 32.09%
INVESTING ACTIVITIES
Capital Expenditures $380.0K $133.0K -$241.5K
YoY Change -675.32% -155.08% 1179.6%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$53.00M
YoY Change -100.0%
Cash From Investing Activities -$380.0K -$133.0K -$53.24M
YoY Change 475.32% -99.75% 282048.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 33.37M 246.1M 75.46M
YoY Change -81.14% 226.09% 3729.64%
NET CHANGE
Cash From Operating Activities -53.55M -55.35M -33.54M
Cash From Investing Activities -380.0K -133.0K -53.24M
Cash From Financing Activities 33.37M 246.1M 75.46M
Net Change In Cash -20.56M 190.6M -11.31M
YoY Change -113.34% -1784.75% -51.73%
FREE CASH FLOW
Cash From Operating Activities -$53.55M -$55.35M -$33.54M
Capital Expenditures $380.0K $133.0K -$241.5K
Free Cash Flow -$53.93M -$55.48M -$33.30M
YoY Change 137.66% 66.64% 31.24%

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ShareBasedCompensation
28865000
us-gaap Share Based Compensation
ShareBasedCompensation
17760000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3161000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
926000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1493000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
683000
us-gaap Depreciation
Depreciation
190000
us-gaap Depreciation
Depreciation
104000
axsm Change In Fair Value Of Contingent Considerations
ChangeInFairValueOfContingentConsiderations
5891000
axsm Change In Fair Value Of Contingent Considerations
ChangeInFairValueOfContingentConsiderations
-860000
axsm Non Cash Lease Expense
NonCashLeaseExpense
772000
axsm Non Cash Lease Expense
NonCashLeaseExpense
554000
axsm Change In Operating Lease Liability
ChangeInOperatingLeaseLiability
-299000
axsm Change In Operating Lease Liability
ChangeInOperatingLeaseLiability
-473000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
29711000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16168000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4932000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-277000
axsm Increase Decrease In Prepaid Expense And Other Assets Current
IncreaseDecreaseInPrepaidExpenseAndOtherAssetsCurrent
3130000
axsm Increase Decrease In Prepaid Expense And Other Assets Current
IncreaseDecreaseInPrepaidExpenseAndOtherAssetsCurrent
1204000
axsm Non Current Inventory And Other Assets
NonCurrentInventoryAndOtherAssets
541000
axsm Non Current Inventory And Other Assets
NonCurrentInventoryAndOtherAssets
185000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4353000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6282000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
11106000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
7185000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-61170000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-66190000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
204000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
455000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
53000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-204000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53455000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
85000000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
45000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1441000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
487000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
225000000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
63560000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
13622000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1757000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6957000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
358000
axsm Payment Of Contingent Consideration
PaymentOfContingentConsideration
-3049000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1200000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
108000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
297645000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
106566000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
236271000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13079000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200842000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86473000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
437113000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73394000
us-gaap Interest Paid Net
InterestPaidNet
7132000
us-gaap Interest Paid Net
InterestPaidNet
2586000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7764000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
561000
axsm Fair Value Of Contingent Consideration In A Business Combination
FairValueOfContingentConsiderationInABusinessCombination
39842000
axsm Fair Value Of Contingent Consideration In A Business Combination
FairValueOfContingentConsiderationInABusinessCombination
35280000
CY2023Q2 axsm Number Of Not Yet Approved Product Candidates
NumberOfNotYetApprovedProductCandidates
3
CY2023Q2 axsm Number Of Approved Products
NumberOfApprovedProducts
2
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Management considers many factors in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. In preparing these financial statements, management used significant estimates in the following areas, among others: stock‑based compensation expense; the determination of the fair value of the warrants; the accounting for research and development costs; accounting for acquisitions; impairments of goodwill and intangible assets; contingent consideration; chargebacks, cash discounts, sales rebates, returns and other adjustments; and the recoverability of the Company’s net deferred tax assets and related valuation allowance.</span></p>
us-gaap Revenues
Revenues
31300000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
437100000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Concentration of Risk</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> - Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents. The Company maintains its cash at financial institutions which exceed insured limits. At June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, the majority of the Company’s cash was held by </span><span style="font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">two</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> financial institutions and amounts on deposit were in excess of government-provided insurance limits. The Company </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">places its cash and cash equivalents in what it believes to be high credit quality banks and money market funds and has not recognized any losses from credit risks on such accounts since inception. See Accounts Receivables, net below for further information.</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Risk, Other </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">- We have a limited number of contract manufacturers for our products. At times we may have only one manufacturer or supplier for a product.</span></p>
CY2023Q2 axsm Number Of Financial Institutions Holding Deposits
NumberOfFinancialInstitutionsHoldingDeposits
2
us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
60 days or less
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q2 axsm Number Of Customers
NumberOfCustomers
3
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2023Q2 us-gaap Advertising Expense
AdvertisingExpense
26700000
us-gaap Advertising Expense
AdvertisingExpense
48100000
CY2022Q2 us-gaap Advertising Expense
AdvertisingExpense
9100000
us-gaap Advertising Expense
AdvertisingExpense
18600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000.0
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
32848
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-108332
CY2023Q2 axsm Trade Receivables
TradeReceivables
83063000
CY2022Q4 axsm Trade Receivables
TradeReceivables
46796000
CY2023Q2 axsm Reserves For Variable Consideration
ReservesForVariableConsideration
-15653000
CY2022Q4 axsm Reserves For Variable Consideration
ReservesForVariableConsideration
-9097000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
67410000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37699000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q4 us-gaap Goodwill
Goodwill
10310000
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
1732000
CY2023Q2 us-gaap Goodwill
Goodwill
12042000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3161000
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P9Y
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
56500000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3214000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6392000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6375000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6375000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6375000
CY2023Q2 axsm Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
27769000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
56500000
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
37000000
axsm Change In Fair Value Of Contingent Considerations
ChangeInFairValueOfContingentConsiderations
5891000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
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CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
39842000
CY2023Q2 axsm Fair Value Of Warrant Liability
FairValueOfWarrantLiability
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CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
4012000
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2473000
CY2023Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
10944000
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
13964000
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8545000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1591000
CY2023Q2 axsm Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
23501000
CY2022Q4 axsm Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
18028000
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
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CY2023Q2 us-gaap Inventory Net
InventoryNet
9252000
CY2022Q4 us-gaap Inventory Net
InventoryNet
4320000
CY2023Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
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CY2022Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
13708000
CY2023Q2 axsm Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
23501000
CY2022Q4 axsm Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
18028000
CY2023Q2 axsm Accrued Research And Development Current
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2653000
CY2022Q4 axsm Accrued Research And Development Current
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4714000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11284000
CY2023Q2 axsm Accrued Selling General And Administrative Current
AccruedSellingGeneralAndAdministrativeCurrent
7124000
CY2022Q4 axsm Accrued Selling General And Administrative Current
AccruedSellingGeneralAndAdministrativeCurrent
6596000
CY2023Q2 us-gaap Accrued Sales Commission Current
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36034000
CY2022Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
26545000
CY2023Q2 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
8129000
CY2022Q4 us-gaap Accrued Royalties Current
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CY2023Q2 us-gaap Interest Payable Current
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CY2022Q4 us-gaap Interest Payable Current
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CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
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CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
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CY2023Q2 us-gaap Interest Expense Debt Excluding Amortization
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CY2022Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1875000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
7702000
us-gaap Interest Expense Debt Excluding Amortization
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CY2023Q2 us-gaap Amortization Of Financing Costs
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CY2022Q2 us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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522000
us-gaap Amortization Of Financing Costs
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258000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q2 axsm Debt Instrument Accreted Liability Of Final Payment Fee
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CY2022Q4 axsm Debt Instrument Accreted Liability Of Final Payment Fee
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1363000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
5114000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
2104000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
176820000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
94259000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
180000000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
180000000
CY2023Q2 axsm Sublease Agreement Term
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P10Y
CY2023Q2 us-gaap Lessee Operating Lease Renewal Term
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CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y9M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2023Q2 axsm Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3669000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7890000
CY2023Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39081100
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39081100
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43597131
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38704227
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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38704227
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q2 us-gaap Earnings Per Share Diluted
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CY2022Q2 us-gaap Earnings Per Share Basic
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CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7286668
axsm Equity Instrument Voting Rights Per Share
EquityInstrumentVotingRightsPerShare
1
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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31.80
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
66.28
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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axsm Non Rule10 B51 Arrangement Terminated
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Payments
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendPayments
0
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15922
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10162
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28865
us-gaap Allocated Share Based Compensation Expense
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axsm Warrants Issued In Period
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axsm Warrants Issued In Period Weighted Average Exercise Price
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axsm Warrants Exercised In Period
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CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q2 us-gaap Income Tax Expense Benefit
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CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
axsm Rule10 B51 Arrangement Adopted
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true
axsm Non Rule10 B51 Arrangement Adopted
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true
axsm Rule10 B51 Arrangement Terminated
Rule10B51ArrangementTerminated
true

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