NASDAQ$SAGE
Sage Therapeutics Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Sage reported first quarter 2024 financial results and provided business updates.
Sage Therapeutics reported $6.2 million in ZURZUVAE collaboration revenue and $1.7 million in ZULRESSO revenue for the first quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $717 million as of March 31, 2024.
- Achieved $6.2 million in ZURZUVAE collaboration revenue, representing 50% of Biogen's net revenues.
- Over 700 ZURZUVAE prescriptions were shipped and delivered in Q1 2024.
- Payor coverage is in place for a majority of commercially covered lives for ZURZUVAE in the treatment of women with postpartum depression (PPD).
- Phase 2 PRECEDENT Study for dalzanemdor in Parkinson’s Disease did not meet the primary endpoint.
Headline financials
Revenue & EPS history
Sage · Revenue · Quarterly
$7.9M
Revenue by segment
Sage · $1.64M total across 1 segment · Q4 2021
- ZULRESSO Net Revenue$1.64M—100.0%
Forward guidance
Sage anticipates that its existing cash, cash equivalents and marketable securities, anticipated funding from ongoing collaborations, and estimated revenues, will support its operations into 2026. The Company anticipates operating expenses will decrease in 2024 relative to 2023.
Tailwinds
- Ongoing commercialization of ZURZUVAE in the treatment of women with PPD.
- Present additional analyses of data from NEST clinical program, including health economics and patient reported outcomes.
- Report topline data from SURVEYOR Study in people with HD cognitive impairment in mid-2024.
- Report topline data from LIGHTWAVE Study in people with MCI and mild dementia due to AD in late 2024.
- Report topline data from DIMENSION Study in people with HD cognitive impairment in late 2024.
Headwinds
- The Company does not anticipate receipt of any additional milestone payments from collaborations in the remainder of 2024.
- The Company anticipates operating expenses will decrease in 2024 relative to 2023.
- With the availability of ZURZUVAE in the U.S. as an additional treatment for women with PPD, the Company anticipates ZULRESSO revenues will continue to decrease over time.
- Phase 2 PRECEDENT Study did not show statistically significant differences versus placebo on primary endpoint in patients with mild cognitive impairment in Parkinson’s Disease.
- The PRECEDENT Study did not meet its primary endpoint of demonstrating statistically significant difference from baseline in participants treated with once-daily dalzanemdor versus placebo on the Wechsler Adult Intelligence Scale Fourth Edition-IV (WAIS-IV) Coding Test score at Day 42.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q1 2024
-2.8%
Avg return
Earnings day
-5.3%
Avg return
5 days after
-6.4%
Avg return
30 days after
43%
19 / 44 earnings
Positive
+12.4%
Q4 2021
Best reaction
-47.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | — | — | — | |
| Q2 2025 | — | — | — | |
| Q1 2025 | -4.1% | -5.7% | -15.0% | |
| Q4 2024 | -0.4% | -0.8% | +7.2% | |
| Q3 2024 | -24.6% | -29.1% | -35.2% | |
| Q2 2024 | -9.6% | -17.2% | -22.1% | |
| Q1 2024 | -2.2% | -0.6% | -19.4% | |
| Q4 2023 | +10.4% | +1.3% | -13.2% | |
| Q3 2023 | -10.2% | -17.1% | +1.3% | |
| Q2 2023 | -47.6% | -39.7% | -42.8% | |
| Q1 2023 | -2.4% | +0.9% | +1.9% | |
| Q4 2022 | +0.9% | -5.2% | -5.2% | |
| Q3 2022 | -5.0% | +5.0% | +16.5% | |
| Q2 2022 | +4.6% | +21.6% | +12.8% | |
| Q1 2022 | +4.9% | -12.2% | +12.6% | |
| Q4 2021 | +12.4% | +12.3% | -1.0% | |
| Q3 2021 | +11.2% | +6.4% | -9.7% | |
| Q2 2021 | -4.0% | -5.1% | +9.0% | |
| Q1 2021 | -10.3% | — | — | |
| Q4 2020 | +4.0% | — | — | |
| Q3 2020 | -0.6% | — | — | |
| Q2 2020 | +1.3% | — | — | |
| Q1 2020 | -4.1% | — | — | |
| Q4 2019 | -26.2% | — | — | |
| Q3 2019 | -0.2% | — | — | |
| Q2 2019 | +7.4% | — | — | |
| Q1 2019 | +0.3% | — | — | |
| Q4 2018 | -8.2% | — | — | |
| Q3 2018 | +3.0% | — | — | |
| Q2 2018 | -0.7% | — | — | |
| Q1 2018 | +1.2% | — | — | |
| Q4 2017 | +0.2% | — | — | |
| Q3 2017 | +11.7% | — | — | |
| Q2 2017 | +7.7% | — | — | |
| Q1 2017 | -2.7% | — | — | |
| Q4 2016 | +0.6% | — | — | |
| Q3 2016 | +0.5% | — | — | |
| Q2 2016 | -13.3% | — | — | |
| Q1 2016 | -3.8% | — | — | |
| Q4 2015 | -4.8% | — | — | |
| Q3 2015 | -4.6% | — | — | |
| Q2 2015 | -6.5% | — | — | |
| Q1 2015 | +2.0% | — | — | |
| Q4 2014 | +2.1% | — | — | |
| Q3 2014 | -5.2% | — | — | |
| Q2 2014 | -7.8% | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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