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Axsome Therapeutics AXSM Balipodect — Eligible Milestone Payments

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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 axsm:EligibleMilestonePayments.

The source filing: Axsome Therapeutics’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 5:04 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-204274

In the first quarter of 2026, the Company acquired the global rights to balipodect (AXS-20), a selective PDE10A Inhibitor for the treatment of Schizophrenia and other neuropsychiatric conditions, from Takeda Pharmaceutical Company Limited (Takeda), for $10.4 million, inclusive of transaction costs. Takeda is eligible to receive up to $260.0 million in development, regulatory and sales-based milestones and a mid single-digit royalty on potential global net sales of balipodect.

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Axsome Therapeutics's balipodect — eligible milestone payments?
Axsome Therapeutics (AXSM) reported balipodect — eligible milestone payments of $260M in Q1 2026.
What does balipodect — eligible milestone payments mean?
This reflects the potential future financial obligations triggered by the achievement of specific clinical, regulatory, or commercial milestones related to the Balipodect program. These payments are typically contingent upon successful development phases or market approvals as defined in licensing or acquisition agreements. Monitoring these helps investors understand the future cash flow requirements and the risk-adjusted cost of advancing the program.

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