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Mar 31, 2021
Sage Q1 2021 Earnings Report
Sage reported first quarter 2021 financial results and provided business highlights, demonstrating advances across depression, neurology and neuropsychiatry franchises.
Key Takeaways
Sage Therapeutics reported a net revenue of $1.6 million from sales of ZULRESSO in Q1 2021, compared to $2.3 million in the same period of 2020. The company's research and development expenses were $58.1 million, and SG&A expenses were $39.8 million. The net loss for the quarter was $95.8 million. The company anticipates having more than $1.7 billion in cash, cash equivalents, and marketable securities at the end of 2021.
Sage is on track to initiate a placebo-controlled Phase 2 trial with SAGE-718 in Huntington’s disease in late 2021.
PARADIGM Study with SAGE-718 showed improved performance on multiple tests of executive function in patients with Parkinson’s disease cognitive impairment.
Positive topline data from Phase 2 KINETIC Study showed a statistically significant reduction in tremor score with SAGE-324 compared to placebo in adults with essential tremor.
Continued positive data demonstrated for the 30 and 50 mg doses of zuranolone in the open-label SHORELINE Study of zuranolone in patients with major depressive disorder.
Forward Guidance
Sage anticipates cash, cash equivalents, and marketable securities of more than $1.7 billion at end of 2021 and does not anticipate receipt of any milestone payments from collaborations in 2021.
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