SAGE Therapeutics, Inc. (US) ( (SAGE) ) has realeased its Q3 earnings. Here is a breakdown of the information SAGE Therapeutics, Inc. (US) presented to its investors.
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Sage Therapeutics, Inc. is a biopharmaceutical company focused on developing innovative treatments for brain health disorders, including the FDA-approved therapies for postpartum depression.
In its third quarter of 2024, Sage Therapeutics reported a substantial 49% growth in collaboration revenue from its product ZURZUVAE, intended for postpartum depression treatment. The company also highlighted strategic shifts, including halting development of zuranolone for major depressive disorder in the U.S. and a focus on ZURZUVAE’s market penetration.
Key financial highlights for the quarter included $11 million in collaboration revenue from ZURZUVAE, a notable increase from the previous quarter, and a significant reduction in research and development expenses from the same period in 2023. Meanwhile, Sage’s cash reserves stood at $569 million by the end of September 2024. Despite a net loss of $93.6 million, this was an improvement from the prior year’s third quarter.
Sage is also making strategic moves, such as the sunset of ZULRESSO and a reorganization intended to streamline operations and extend its cash runway. The company remains optimistic about its long-term growth, bolstered by ZURZUVAE’s potential as a standard treatment for postpartum depression.
Looking forward, Sage Therapeutics aims to consolidate its position in the brain health sector by prioritizing resources on ZURZUVAE’s commercialization and evaluating future opportunities for SAGE-324. The company expects to continue decreasing operational expenses and anticipates its cash resources will support operations into 2026.
