Axsome Therapeutics, Inc.

AI-generated fair value estimate for this company.

Method: Multi-stage unlevered FCF DCF off TTM revenue of $776.6M growing 35%/25%/20%/15%/10% over 5 years then a 3% terminal rate, FCF margin ramping from 5% to 30% as commercial scale improves, discounted at 11% WACC, terminal value via Gordon growth, plus $95.2M net cash, divided by 52.4M diluted shares.

Reasoning: Axsome is commercial-stage with real, fast-growing product revenue (Auvelity, Sunosi, Symbravo) but still GAAP-loss-making, so a revenue-driven DCF modeling the path to positive FCF margin is more appropriate than a pre-revenue biotech NPV approach.