News about AXSM

The author sees Axsome Therapeutics (AXSM) and Exelixis (EXEL) as attractive biotech stocks despite less investor attention than leading AI companies. Axsome's Auvelity sales rose 51% year over year to $180.3 million in the second quarter, about 82.6% of the company's $218.4 million revenue, and the drug recently gained approval for Alzheimer's disease agitation and is in a Phase 3 study for smoking cessation. Sunosi sales grew 20% to $35.8 million, and an AXS-12 application could be approved by May 2027. Exelixis posted $628.7 million in second-quarter revenue, up almost 11%, with its main drug Cabometyx protected from U.S. generics until at least 2030. The FDA extended the review for zanzalintinib to March 3, 2027, but the author believes approval remains likely.