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Axsome Therapeutics AXSM AZD7325 — Research And Development Expense

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Other financials

Income statement

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Revenue$191.2M+57.4%
Gross profit$176.5M+58.0%
Operating income-$63.4M-11.2%
Net income-$64.5M-8.6%
EPS (diluted)-$1.26-3.3%

Balance sheet

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Cash & equivalents$305.1M+1.4%
Total debt$219.9M+4.1%
Total equity$54.6M+2.6%
Total assets$713.6M+19.6%

Cash flow

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Operating cash flow-$20.7M+52.3%
CapEx$121.0K-64.2%
Free cash flow-$20.8M+52.4%

Valuation

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Market cap$10.95B+113%
Enterprise value$10.87B+114%
P/S15.5×+5.1×

Profitability

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Gross margin92.6%+1.1pp
Operating margin-24.4%-9.3pp
Net margin-26.6%-9.8pp
FCF margin-10.2%-3.9pp

Returns & leverage

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Return on equity-349.4%+109pp
Debt / equity+0.1×
Current ratio1.4×-0.6×

Where this comes from

Reported directly by Axsome Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Axsome Therapeutics’s 10-K, filed February 23, 2026.

Filed
Feb 23, 2026, 5:02 PM EST
Fiscal year
FY2025
Accession
0001193125-26-064267

The Company accounted for the transaction as an acquisition of an asset, as substantially all the fair value of the assets acquired were concentrated in AZD7325. The Company recorded a charge of $2.3 million in research and development expense, inclusive of the shares acquired, license amendment costs, and direct transaction costs.

ITEM 15. EXHIBITS and FINANCIAL STATEMENT SCHEDULES.

FAQ

What is Axsome Therapeutics's AZD7325 — research and development expense?
Axsome Therapeutics (AXSM) reported AZD7325 — research and development expense of $2.3M in Q4 2025.
What does AZD7325 — research and development expense mean?
This metric represents the total operating costs directly attributable to the research, clinical development, and regulatory advancement of the AZD7325 therapeutic candidate. It encompasses expenses related to clinical trial execution, manufacturing of drug supplies for testing, and specialized personnel costs dedicated to this specific CNS asset. Monitoring this expenditure provides insight into the capital allocation strategy and the pace of clinical progression for this particular pipeline program.

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