Axsome Therapeutics, Inc. and Wave Life Sciences Ltd.: SG&A Spending Patterns Compared

SG&A Spending Patterns: A Tale of Two Biotechs

In the competitive world of biotechnology, strategic spending on Selling, General, and Administrative (SG&A) expenses can be a key differentiator. Over the past decade, Axsome Therapeutics, Inc. and Wave Life Sciences Ltd. have demonstrated contrasting approaches in their SG&A expenditures. From 2014 to 2023, Axsome's SG&A expenses skyrocketed by over 23,000%, peaking at approximately $323 million in 2023. This aggressive spending reflects their commitment to expanding market presence and accelerating drug development. In contrast, Wave Life Sciences maintained a more conservative growth, with SG&A expenses increasing by about 1,600% over the same period, reaching around $51 million in 2023. This divergence highlights differing strategic priorities: Axsome's focus on rapid growth versus Wave's steady, calculated expansion. As these companies continue to evolve, their SG&A strategies will likely play a pivotal role in shaping their future trajectories.