NASDAQ$SAGE
Sage Therapeutics Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Sage reported Q4 2023 financial results and pipeline progress, highlighted by the commercial availability of ZURZUVAE and encouraging early launch results.
Sage Therapeutics reported $0.8 million in collaboration revenue from ZURZUVAE in Q4 2023, marking its commercial availability in mid-December. The company achieved a net loss of $32.7 million for the quarter, with cash, cash equivalents, and marketable securities totaling $753 million at year-end.
- ZURZUVAE commercially available mid-December, generating $0.8 million in collaboration revenue.
- Approximately 120 prescriptions for ZURZUVAE were written in December.
- Sage completed screening in the Phase 2b KINETIC 2 study of SAGE-324 in essential tremor.
- Cash, cash equivalents and marketable securities totaled $753 million at the end of 2023.
Headline financials
Revenue & EPS history
Sage · Revenue · Quarterly
$78M
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, along with the milestone payment received in January 2024, 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. With the availability of ZURZUVAE as an additional treatment for women with PPD, the Company anticipates ZULRESSO revenues will decrease over time.
Tailwinds
- Existing cash, cash equivalents and marketable securities, along with milestone payments, anticipated funding from ongoing collaborations, and estimated revenues, will support operations into 2026.
- Operating expenses are anticipated to decrease in 2024 relative to 2023.
- Broader complement of capabilities for commercializing ZURZUVAE in the treatment of women with PPD is expected in early 2024.
- Additional analyses of data from NEST clinical program, including health economics and patient reported outcomes, will be presented in 2024.
- Topline data from PRECEDENT Study in people with MCI associated with PD is expected in early 2024.
Headwinds
- The Company does not anticipate receipt of any milestone payments from collaborations in the remainder of 2024.
- ZULRESSO revenues are anticipated to decrease over time with the availability of ZURZUVAE.
- Topline data from SURVEYOR Study in people with HD cognitive impairment is expected in mid-2024.
- Topline data from LIGHTWAVE Study in people with MCI and mild dementia due to AD is expected in late 2024.
- Topline data from DIMENSION Study in people with HD cognitive impairment is expected in late 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 Q4 2023
-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