Latest news with #SAGE-324
Associated Press
12-04-2025
- Business
- Associated Press
SAGE THERAPEUTICS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Sage Therapeutics, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Apr 11, 2025-- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ('KSF'), announces that KSF has commenced an investigation into Sage Therapeutics, Inc. ('Sage' or 'the Company') (NasdaqGM: SAGE). Sage is a biopharmaceutical company that develops and commercializes brain health medicines. On April 17, 2024, the Company disclosed that a Phase 2 study of its SAGE-718 product 'did not meet its primary endpoint of demonstrating statistically significant difference from baseline in participants treated with once-daily dalzanemdor [SAGE-718] versus placebo on the Wechsler Adult Intelligence Scale Fourth Edition-IV Coding Test score at Day 42,' and that, '[b]ased on the data, the Company does not plan any further development of [SAGE-718] in PD.' Then, on July 24, 2024, the Company disclosed that its SAGE-324 product failed a Phase 2 study as patients who received their drug did not show a statistically significant improvement on scales measuring tremors in their arms or activities of daily living, and that, '[g]iven these results, Sage and Biogen will close the ongoing open label safety study of SAGE-324 in ET and do not plan to conduct further clinical development of SAGE-324 in ET.' Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing. KSF's investigation is focusing on whether Sage's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. If you have information that would assist KSF in its investigation, or have been a long-term holder of Sage shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ( [email protected] ), or visit to learn more. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. To learn more about KSF, you may visit View source version on CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner [email protected] 1-877-515-1850 1100 Poydras St., Suite 960 New Orleans, LA 70163 KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA NEW YORK INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: Kahn Swick & Foti, LLC Copyright Business Wire 2025. PUB: 04/11/2025 10:50 PM/DISC: 04/11/2025 10:50 PM
Yahoo
12-02-2025
- Business
- Yahoo
Sage Therapeutics Inc (SAGE) Q4 2024 Earnings Call Highlights: Strong Prescription Growth Amid ...
Revenue: $11.4 million in Q4 2024, a 4% increase from Q3 2024; $36.1 million for the full year 2024. R&D Expenses: $37 million in Q4 2024. SG&A Expenses: $54 million in Q4 2024. Restructuring Expenses: One-time expenses of $22.5 million in Q4 2024. Net Loss: $95.8 million for Q4 2024. Cash Position: $504 million in cash, cash equivalents, and marketable securities as of December 31, 2024. Prescription Growth: 2,500 prescriptions shipped in Q4 2024, a 21% increase from Q3 2024; over 6,600 prescriptions for the full year 2024. Coverage: Greater than 95% of commercial and Medicaid lives covered or with a path to coverage for ZURZUVAE. Warning! GuruFocus has detected 4 Warning Signs with SAGE. Release Date: February 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sage Therapeutics Inc (NASDAQ:SAGE) reported early commercial success with ZURZUVAE, the first oral treatment for postpartum depression (PPD), exceeding expectations with over 6,600 shipments in 2024. The company plans to invest in 2025 to fuel top-line revenue growth, indicating confidence in ZURZUVAE's market potential. ZURZUVAE has achieved greater than 90% aided brand awareness among OB-GYNs and psychiatrists, reflecting strong market penetration. More than 95% of commercial and Medicaid lives are covered or have a path to coverage for ZURZUVAE, ensuring broad access for patients. Sage Therapeutics Inc (NASDAQ:SAGE) has a strong financial position with cash runway expected to last until mid-2027, supporting ongoing operations and strategic initiatives. The company reported a net loss of $95.8 million for the fourth quarter of 2024, highlighting ongoing financial challenges. There were one-time restructuring expenses of $22.5 million in the fourth quarter of 2024, impacting overall financial performance. Despite strong demand growth, revenue growth was modest due to inventory dynamics, indicating potential challenges in supply chain management. The company is facing strategic uncertainty with Biogen's unsolicited acquisition proposal and the initiation of a strategic review process. Sage Therapeutics Inc (NASDAQ:SAGE) is not currently investing in further development of SAGE-324, indicating potential limitations in pipeline advancement. Q: Can you elaborate on Biogen's involvement in the sales force expansion and marketing efforts for ZURZUVAE? A: Barry Greene, CEO, explained that based on 2024's performance, Sage and Biogen have aligned on an integrated commercialization plan for 2025. This includes increasing the sales force and investing in medical affairs, disease state awareness, and direct-to-consumer (DTC) efforts. Chris Benecchi, COO, added that social media campaigns and connected TV are part of the strategy to reach both patients and healthcare providers. Q: Could you explain the inventory dynamics and the proportion of free drugs provided in Q4? A: Barry Greene noted that demand grew over 20% quarter-on-quarter, and Chris Benecchi clarified that revenue is recorded when product moves to wholesalers, with inventory fluctuations at specialty pharmacies and wholesalers. The percentage of free drugs decreased in Q4, and they expect this trend to continue as coverage improves. Q: How are you addressing potential headwinds in Q1 due to payer dynamics? A: Barry Greene stated they anticipate continued growth in Q1, as their reimbursement is primarily through commercial and Medicaid channels, avoiding typical Medicare-related issues. Chris Benecchi added that the market is promotionally responsive, and they do not expect holiday-related disruptions in Q1. Q: Can you provide more details on the sales force expansion and its expected impact? A: Barry Greene mentioned that the sales force was expanded in Q4, resulting in a 33% increase in territories where they expanded. Although specific future guidance wasn't provided, they are confident that the expansion will continue to drive demand and revenue growth. Q: Are there any constraints on commercial support for ZURZUVAE following the corporate restructure? A: Barry Greene assured that there are no constraints on commercial support. They are focused on scaling with success and believe that investments will lead to immediate improvements in demand and revenue. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
