The earnings call highlighted strong growth and market acceptance for Zurzuvae, along with strategic business decisions to focus on PPD. However, setbacks in Alzheimer's research, termination of Biogen collaboration, and financial losses present significant challenges.

Company Guidance

During the Sage Therapeutics Q3 2024 earnings call, the company provided a comprehensive update on its strategic priorities and financial metrics. Zurzuvae, a treatment for postpartum depression (PPD), generated $22.1 million in total revenue, with Sage recognizing $11 million as collaboration revenue, marking a 49% growth over the previous quarter. Approximately 2,000 prescriptions were filled, reflecting a 40% increase compared to Q2. The company's restructuring efforts aim to bolster its balance sheet and prioritize PPD, with over 90% of commercial and Medicaid lives now covered for Zurzuvae. Sage reported a net loss of $93.6 million and ended the quarter with approximately $569 million in cash and marketable securities. The company also announced the discontinuation of ZULRESSO by the end of 2024, while focusing on advancing its pipeline, including the anticipated data readout from the Phase II DIMENSION study in Huntington's disease later this year.

Successful Launch of Zurzuvae

Zurzuvae generated $22.1 million in total revenue in the third quarter of 2024, representing a 49% growth over the second quarter. Approximately 2,000 prescriptions were filled, marking a 40% growth compared to the second quarter.

Strategic Business Decisions

Sage is discontinuing ZULRESSO after December 31, 2024, and focusing resources on Zurzuvae, which is expected to support the PPD patient community more effectively.

Positive Market Reception

Zurzuvae has 90% aided brand awareness among OB/GYNs and psychiatrists, and 70% of prescribers are OB/GYNs. Over 90% of commercial and Medicaid lives are covered, with favorable policies from all three national PBMs.

Expansion of Sales Force

Sage has expanded its sales force to further scale and drive the demand and market growth for Zurzuvae.

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SAGE Therapeutics (SAGE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SAGE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 07, 2018	2018 (Q2)	- / -0.36	-1.88	80.85% (+1.52)	―	―
Nov 06, 2018	2018 (Q3)	- / -2.63	-1.97	-33.50% (-0.66)	―	―
Feb 19, 2019	2018 (Q4)	- / -3.38	-1.75	-93.14% (-1.63)	―	―
May 02, 2019	2019 (Q1)	- / -3.37	-1.68	-100.60% (-1.69)	―	―
Aug 06, 2019	2019 (Q2)	- / -3.28	-0.36	-811.11% (-2.92)	―	―
Nov 12, 2019	2019 (Q3)	- / -3.48	-2.63	-32.32% (-0.85)	―	―
Feb 27, 2020	2019 (Q4)	- / -3.25	-3.38	3.85% (+0.13)	―	―
May 07, 2020	2020 (Q1)	- / -2.44	-3.37	27.60% (+0.93)	―	―
Aug 10, 2020	2020 (Q2)	- / -2.63	-3.28	19.82% (+0.65)	―	―
Nov 05, 2020	2020 (Q3)	- / -2.03	-3.48	41.67% (+1.45)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SAGE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$8.48	$6.44	-24.06%
Jul 31, 2024	$10.80	$10.95	+1.39%
Apr 25, 2024	$14.00	$13.58	-3.00%
Feb 14, 2024	$23.02	$25.75	+11.86%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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