NASDAQ$SAGE
Sage Therapeutics Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported business highlights and financial results.
Sage Therapeutics reported encouraging third quarter results, highlighted by continued growth in ZURZUVAE revenue and shipments, and announced a strategic reorganization to support the ongoing launch of ZURZUVAE and focus pipeline development efforts.
- Achieved $11 million in ZURZUVAE collaboration revenue, representing 49% growth from the second quarter.
- Approximately 2,000 ZURZUVAE prescriptions were shipped and delivered, representing an approximately 40% increase from the second quarter.
- Over 90% of commercial and Medicaid lives are covered by payor policies in PPD, with the majority having no step therapy or complex prior authorizations.
- Sage and Biogen will not pursue further development of zuranolone in major depressive disorder (MDD) in the U.S.
Headline financials
Revenue & EPS history
Sage · Revenue · Quarterly
$11.9M
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 as of September 30, 2024, anticipated funding from ongoing collaborations and estimated revenues, excluding any potential savings resulting from its October 2024 reorganization, will support its operations into 2026. The Company plans to update cash runway guidance in the near future.
Tailwinds
- Existing cash, cash equivalents and marketable securities will support operations into 2026.
- Anticipated funding from ongoing collaborations.
- Estimated revenues will support operations.
- Operating expenses will decrease in 2025 relative to 2024.
- Reorganization to strengthen balance sheet, extend cash runway, and position the company for long-term growth potential.
Headwinds
- Sage and Biogen will not pursue further development of zuranolone as a treatment for MDD in the U.S.
- LIGHTWAVE Study did not demonstrate a statistically significant difference from baseline in participants treated with dalzanemdor versus placebo on the Wechsler Adult Intelligence Scale Fourth Edition (WAIS-IV) Coding Test at Day 84
- The Company does not plan further clinical development of dalzanemdor in AD.
- Biogen terminated its rights under the collaboration and license agreement with Sage specific to the SAGE-324 program.
- The Company does not anticipate receipt of any milestone payments from collaborations in the remainder of 2024.
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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro