The best biotech growth stocks typically have one clear-cut value driver. This fact is a testament to the extreme difficulty involved in bringing a major new drug to market and subsequently capturing market share. As a result, a large chunk of small- to mid-cap biotech stocks end up burning brightly for short periods of time, before ultimately lagging behind the broader markets over a multiyear period. Axsome Therapeutics (NASDAQ: AXSM) may have what it takes to escape this less-than-ideal fate. 

Since going public in 2015, Axsome's shares have appreciated by a jaw-dropping 876%. The company's meteoric rise has been fueled by the Food and Drug Administration (FDA) approval of the major depressive disorder drug Auvelity (AXS-05), as well as the acquisition of the narcolepsy medication Sunosi from Jazz Pharmaceuticals. But as the company highlighted in a recent filing with the Securities and Exchange Commission (SEC), it has a lot more to offer shareholders in the years to come.

On the low end, Axsome's management believes the company's first two commercial-stage products should deliver at least $1.3 billion in peak sales. On the high end, the company's leadership thinks Auvelity and Sunosi could hit a whopping $3.5 billion in combined sales. At the time of this writing, Axsome's market cap stands at roughly $3.7 billion. Hence, these two FDA-approved drugs have the potential to drive significant organic growth over the balance of the current decade.

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Source Fool.com