Sage's oral depression therapy fails in late-stage trial; shares plunge [Reuters (UK)]
Sage Therapeutics, Inc. (SAGE)
Last sage therapeutics, inc. earnings: 2/27 06:30 am
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Source: Reuters
Sage's oral depression therapy fails in late-stage trial; shares plunge - Reuters 2 Min Read (Reuters) - Sage Therapeutics Inc said on Thursday its experimental drug failed to improve condition of patients with severe depression in a late-stage study, setting up the drugmaker to lose about $4 billion in valuation when the market opens. The hotly anticipated data was expected to allow the company to widen its reach in the multi-billion dollar depression market it entered with its first-approved drug, Zulresso, for postpartum depression. SVB Leerink analyst Marc Goodman had said in a note ahead of the trial results that a late-stage trial failure would be a major disappointment to investors and a setback for the company as it would be the first “chink in the armor” in the Sage story. The oral therapy, SAGE-217, did not produce a statistically significant improvement in patients scored across 17 different parameters, including anxiety and insomnia, at the 15-day mark during the trial. SA
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News
- Biotech Stock Roundup: SAGE, INCY Suffer Setbacks, JAZZ Wins Oncology Drug Approval & More [Yahoo! Finance]Yahoo! Finance
- SAGE's Dalzanemdor Fails to Meet Goal in Huntington's Disease Study [Yahoo! Finance]Yahoo! Finance
- Sage Therapeutics, Inc. (NASDAQ: SAGE) had its price target lowered by analysts at TD Cowen from $10.00 to $9.00. They now have a "hold" rating on the stock.MarketBeat
- Sage Therapeutics, Inc. (NASDAQ: SAGE) was upgraded by analysts at Royal Bank of Canada from an "underperform" rating to a "sector perform" rating. They now have a $4.00 price target on the stock.MarketBeat
- Sage Therapeutics, Inc. (NASDAQ: SAGE) had its "neutral" rating re-affirmed by analysts at HC Wainwright. They now have a $14.00 price target on the stock.MarketBeat
SAGE
Earnings
- 10/29/24 - Miss
SAGE
Sec Filings
- 11/20/24 - Form 8-K
- 11/14/24 - Form SC
- 11/14/24 - Form 4
- SAGE's page on the SEC website