Axsome Therapeutics (AXSM) investor relations material

Strategic focus and growth outlook

• Maintains a core focus on CNS disorders, with openness to synergistic opportunities outside neuroscience if value-driven opportunities arise.

• Significant transformation over the past five years, growing from under 100 to over 1,000 employees and evolving from a clinical-stage to a commercial-stage company with multiple products and indications.

• Projects continued evolution, with expectations to look markedly different by 2031 and a robust pipeline supporting future growth.

Product portfolio and recent approvals

• Three marketed products: AUVELITY (recently approved for Alzheimer's disease agitation), SYMBRAVO (migraine), and SUNOSI (excessive daytime sleepiness in OSA and narcolepsy).

• AUVELITY's recent label expansion to Alzheimer's disease agitation is seen as a major opportunity, addressing a substantial unmet need.

• AUVELITY now has four indications, with up to 10 disclosed indications in the pipeline and a peak sales estimate of $8 billion.

AUVELITY commercial strategy and market dynamics

• AUVELITY's differentiated mechanism and rapid, durable efficacy with a clean safety profile drive its competitive advantage.

• Market share in MDD is growing, with new-to-brand prescriptions up 14% since sales force expansion, outpacing branded competitors.

• Payer coverage is robust at 86% of total covered lives, with 100% in government channels and 78% in commercial.

• Minimal direct-to-consumer marketing has yielded strong sales; future DTC for ADA is planned for 2027–2028, focusing first on physician education.