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Sage Therapeutics and Biogen have decided to abandon efforts to gain approval for Zurzuvae in the broader major depressive disorder market, focusing instead on postpartum depression after the FDA limited its use. The companies are prioritizing resources due to the significant investment required for further studies, leading to a 40% workforce reduction at Sage. Despite setbacks, executives remain optimistic about Zurzuvae's performance in postpartum depression, noting encouraging prescription trends and insurance coverage.
Seaport Therapeutics has raised $225 million to advance its development of innovative brain drugs, focusing on longer-lasting psychiatric medications with fewer side effects. Founded by PureTech Health, the company is progressing its lead oral drug targeting major depressive disorder and exploring treatments for anxiety and neuropsychiatric disorders. The funding round, led by General Atlantic, reflects strong investor confidence in Seaport's experienced team and its promising research programs.
Sage Therapeutics is restructuring, cutting about one-third of its workforce, which amounts to approximately 165 employees, primarily in research. The company is also reprioritizing its drug pipeline following setbacks, including mixed results for its drug Zurzuvae and failures in trials for other neurological treatments. Sage aims to extend its operating runway while focusing on launching Zurzuvae, which has seen a gradual increase in prescriptions.
Sage Therapeutics' experimental drug dalzanemdor (SAGE-718) has failed in a mid-stage trial for Alzheimer’s, showing no significant cognitive improvement over placebo. Following this setback, the company will not pursue further development for Alzheimer’s and faces low expectations for upcoming Huntington’s disease trials. Sage's stock has dropped significantly this year, reflecting ongoing challenges after previous drug failures and a major workforce reduction.
Sage Therapeutics, Inc.
Companies
| Symbol | SAGE |
| Name | Sage Therapeutics, Inc. |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Biotechnology |
| Market | NASDAQ Global Select |
| Country | United States |
| State | MA |
| City | Cambridge |
| Zipcode | 2142 |
| Website | http://www.sagerx.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
biogen and sage shift focus to zurzuvae for postpartum depression
16:38 30.10.2024
seaport therapeutics secures 225 million for brain drug development initiatives
Seaport Therapeutics
Sage Therapeutics, Inc.
PureTech Health plc
General Atlantic Fino A LLC
Karuna Therapeutics Inc.
Daphne Zohar
Steven Paul
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sage therapeutics lays off one third of workforce amid restructuring efforts
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