07:33 AM EDT, 05/06/2024 (MT Newswires) -- Axsome Therapeutics ( AXSM ) reported a Q1 loss of $1.44, widening from a loss of $0.26 a year earlier.

Analysts polled by Capital IQ expected a loss of $1.23.

Total revenue for the quarter ended March 31 was $75 million, down from $94.6 million a year earlier.

Analysts surveyed by Capital IQ expected $72.9 million.

Cash and cash equivalents totaled $331.4 million as of March 31, down from $386.2 million as of Dec. 31.

Shares of the biopharmaceutical company rose more than 1% in recent Monday premarket activity.

Price: 75.80, Change: +1.00, Percent Change: +1.34