Sage Therapeutics Inc

SAGE

Equity

ISIN US78667J1088 / Valor 24747713

NASDAQ (2024-11-22)

USD 5.17+6.60%

Sage Therapeutics Inc
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About company

Sage Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing innovative medicines to treat brain health disorders. The company has made significant strides in addressing maternal mental health by bringing to market the only FDA-approved treatments for postpartum depression. Beyond maternal mental health, Sage Therapeutics is also working on pioneering treatments for other brain health issues, including essential tremor and cognitive impairment associated with neurodegenerative diseases. By integrating patient and care partner perspectives throughout the research and commercialization processes, Sage aims to meet the unmet needs within the realm of brain health disorders, striving to make a meaningful impact on millions of lives by viewing and treating brain health through a new lens.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Sage Therapeutics Inc. reported total revenues of $8.65 million for the second quarter of 2024, a significant increase from the $2.47 million reported in the same quarter of 2023. This growth was primarily driven by collaboration revenue related to ZURZUVAE™ (zuranolone), which contributed $7.42 million during the quarter.

Net Loss

Despite the increase in revenue, Sage Therapeutics Inc. experienced a net loss of $102.85 million for the second quarter of 2024. This is an improvement compared to the net loss of $160.33 million reported in the second quarter of 2023. The reduction in net loss is attributed to lower operating costs and expenses.

Operating Costs and Expenses

For the second quarter of 2024, Sage Therapeutics Inc. reported total operating costs and expenses of $119.95 million, down from $172.93 million in the same period of the previous year. The decrease was mainly due to reduced research and development expenses, which fell to $62.56 million from $97.16 million in the second quarter of 2023.

Cash Position

As of June 30, 2024, Sage Therapeutics Inc. had cash, cash equivalents, and marketable securities totaling $646.79 million. This compares to $753.18 million as of December 31, 2023, indicating a decrease in cash reserves over the first half of the year.

Product Revenue

Sage Therapeutics Inc. reported net product revenue of $600,000 for the second quarter of 2024, a decline from the $2.46 million reported in the same quarter of 2023. The decrease in product revenue highlights the challenges the company faces in achieving expected revenue levels from its currently marketed products.

Summarized from source with an LLMView Source

Key figures

-73.4%1Y

-87.0%3Y

-96.5%5Y

Performance

69.9%1Y

74.6%3Y

80.5%5Y

Volatility