Sign up Australia
Proactive Investors - Run By Investors For Investors

SAGE Therapeutics skyrockets as second depression drug in as many months aces mid-stage trial

Sage’s SAGE-217 drug was statistically significant in reducing the symptoms of major depressive disorder compared to a placebo
depressed woman
The company looks set to add the best of US$2.5bn to its market value on the back of the results

Shares in SAGE Therapeutics Inc (NASDAQ:SAGE) skyrocketed in premarket trading on Thursday after the biotech’s depression drug aced a mid-stage trial.

In a statement, the Massachusetts-based group said 64% of patients taking its SAGE-217 drug saw their major depressive disorder (MDD) go into remission within 15 days of treatment.

Patients were assessed on a scale that rated the severity of their depression symptoms such as mood, feelings of guilt, suicidal thoughts and insomnia.

Shares gained 79.9% to US$165.30 in premarket trade on Thursday, leaving the firm on course to add around US$2.5bn to its market value.

“These very encouraging data suggest the potential of SAGE-217 in the treatment of MDD as well as other mood-related disorders that we may pursue,” said Jeff Jonas, Sage’s chief executive.

“The positive activity and safety findings of SAGE-217 in MDD support advancing the program into later stage clinical development and we will work with the FDA to determine next steps in the further development of SAGE-217.”

It’s Sage’s second success in as many months. Back in November the company said its brexanolone postpartum depression drug met its main goal in two late-stage studies, pacing the way for the first FDA-approved treatment for the disorder.

According to Reuters, Sage won’t seek to partner with another company for the phase III trial.

In the regular session, shares added over 76% to US$162.22 each.

View full SAGE profile View Profile

SAGE Therapeutics Timeline

Related Articles

Laboratory
June 21 2018
Genedrive has signed sales agreement with Sysmex Corporation for the distribution of the HCV ID to EMEA and Asia Pacific and with Mumbai- based ARKRAY to distribute the kit in India
Woman sneezing
September 27 2018
"We look forward to the exciting developments in our early pipeline planned for 2019, and we expect to continue to grow our European business while progressing towards US and German registration for our lead products," said company chairman, Peter Jensen
Callitas CEO James Thompson
July 21 2018
CannaStrips will generate near-term revenue, while the company’s blue-sky pharmaceutical assets and orphan drug are solid, long-term plays

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use