Sage Therapeutics Inc · Q1 2021 earnings

Briefing

Sage reported first quarter 2021 financial results and provided business highlights, demonstrating advances across depression, neurology and neuropsychiatry franchises.

Sage Therapeutics reported a net revenue of $1.6 million from sales of ZULRESSO in Q1 2021, compared to $2.3 million in the same period of 2020. The company's research and development expenses were $58.1 million, and SG&A expenses were $39.8 million. The net loss for the quarter was $95.8 million. The company anticipates having more than $1.7 billion in cash, cash equivalents, and marketable securities at the end of 2021.

• Sage is on track to initiate a placebo-controlled Phase 2 trial with SAGE-718 in Huntington’s disease in late 2021.
• PARADIGM Study with SAGE-718 showed improved performance on multiple tests of executive function in patients with Parkinson’s disease cognitive impairment.
• Positive topline data from Phase 2 KINETIC Study showed a statistically significant reduction in tremor score with SAGE-324 compared to placebo in adults with essential tremor.
• Continued positive data demonstrated for the 30 and 50 mg doses of zuranolone in the open-label SHORELINE Study of zuranolone in patients with major depressive disorder.

Headline financials

Revenue & EPS history

Sage anticipates cash, cash equivalents, and marketable securities of more than $1.7 billion at end of 2021 and does not anticipate receipt of any milestone payments from collaborations in 2021.