AXSM — what changed in the latest 10-Q
A section-by-section comparison of AXSM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-02 vs the prior 10-Q · 2026-08-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +1 | −1 | ~33 | 56 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 14 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 14 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 14 |
| Risk factors | Some risk factors updated | +4 | −4 | ~59 | 461 |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 14 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-02
Income tax benefit (expense). We recorded an income tax expense of $0.1 million and $0.2 million for the three and nine months ended September 30, 2026, respectively, due to unfavorable return-to-provision adjustments attributable to certain foreign tax returns filed during the period. We did not re…
Text removed vs the prior filing · source: 10-Q · 2026-08-10
Income tax expense. We recorded an income tax expense of $0.1 million for the three and six months ended June 30, 2026. We recorded an income tax benefit of $1.0 million for the same periods in 2025.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-11-02
If any of our products do not achieve broad market acceptance, the revenues that we generate from their sales will be limited.
Further, executive orders were signed to implement MFN drug pricing policies designed to align certain prescription drug prices in the U.S. to lower prices available in other countries. Since issuance of these executive orders, the U.S. administration has begun implementing MFN pricing through a com…
There are also federal and state laws governing commercial communication and data privacy, including the CAN-SPAM Act, the Telephone Consumer Protection Act (TCPA), and comprehensive state privacy laws such as the CCPA and CPRA. The CAN-SPAM Act, among other things, obligates the sender of commercia…
Further, the ACA expanded the 340B drug discount program to additional facilities for outpatient drugs. These facilities may purchase drugs at the discounted price provided to Medicaid and dispense drugs to people with commercial insurance coverage. This program has greatly expanded over time with q…
Text removed vs the prior filing · source: 10-Q · 2026-08-10
If any of our products do not achieve broad market acceptance, we may be unable to generate substantial product revenues.
Further, executive orders were signed to implement MFN drug pricing policies designed to align certain prescription drug prices in the U.S. to lower prices available in other countries. Since issuance of these executive orders, the U.S. administration has begun implementing MFN pricing through a com…
There are also federal and state laws on marketing and solicitation, such as CAN-SPAM. The CAN-SPAM Act, among other things, obligates the sender of commercial emails to provide recipients with the ability to opt out of receiving future commercial emails from the sender. Any failure by us to comply …
Further, the ACA expanded the 340B drug discount program to additional facilities for outpatient drugs. These facilities may purchase drugs at the discounted price provided to Medicaid and dispense drugs to people with commercial insurance coverage. This program has greatly expanded over time with q…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice