Sage Therapeutics Inc · Q1 2023 earnings

Briefing

Sage reported first quarter 2023 financial results and highlighted pipeline and business progress.

Sage Therapeutics reported a net revenue of $3.3 million from ZULRESSO sales in Q1 2023, compared to $1.6 million in the same period of 2022. The company's cash, cash equivalents, and marketable securities totaled $1.1 billion as of March 31, 2023. The FDA accepted the filing of an NDA for zuranolone for the treatment of MDD and PPD with a PDUFA action date of August 5, 2023.

• NDA for zuranolone in the treatment of MDD and PPD under priority review by FDA with a PDUFA date of August 5, 2023.
• Sage and Biogen progressing key commercial preparations to support a potential launch of zuranolone in late 2023, following DEA scheduling period, if approved.
• Continued progress across pipeline with nine studies advancing across neuropsychiatry and neurology.
• Data demonstrating severe economic burden associated with depression presented at the Academy of Managed Care Pharmacy and The Professional Society for Health Economics and Outcomes Research.

Headline financials

Revenue & EPS history

Sage anticipates that its existing cash, cash equivalents and marketable securities, anticipated funding from ongoing collaborations, and potential revenue, will support its operations into 2025. The Company anticipates R&D and SG&A spending to increase as it prepares for the potential launch of zuranolone and advances planned and ongoing studies for SAGE-718 and SAGE-324.