Published on 21 Feb 2024 on Zacks via Yahoo Finance
Axsome (AXSM) Stock Falls Despite Q4 Earnings & Revenue Beat
Axsome Therapeutics, Inc. AXSM reported an adjusted loss of 73 cents per share for the fourth quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.21. The company had reported a loss of $1.28 per share in the year-ago period.
The above-adjusted loss excludes the impact of certain non-cash charges, including which the reported loss per share was $2.08 in the fourth quarter of 2023 compared with a loss of $1.41 reported in the year-ago quarter.
The company’s fourth-quarter revenues were $71.5 million, which beat the Zacks Consensus Estimate of $70 million. AXSM had recorded revenues of $24.4 million in the year-ago period.