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Mar 31, 2024
Sage Q1 2024 Earnings Report
Sage reported first quarter 2024 financial results and provided business updates.
Key Takeaways
Sage Therapeutics reported $6.2 million in ZURZUVAE collaboration revenue and $1.7 million in ZULRESSO revenue for the first quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $717 million as of March 31, 2024.
Achieved $6.2 million in ZURZUVAE collaboration revenue, representing 50% of Biogen's net revenues.
Over 700 ZURZUVAE prescriptions were shipped and delivered in Q1 2024.
Payor coverage is in place for a majority of commercially covered lives for ZURZUVAE in the treatment of women with postpartum depression (PPD).
Phase 2 PRECEDENT Study for dalzanemdor in Parkinson’s Disease did not meet the primary endpoint.
Revenue by Segment
Forward Guidance
Sage anticipates that its existing cash, cash equivalents and marketable securities, 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.
Positive Outlook
- Ongoing commercialization of ZURZUVAE in the treatment of women with PPD.
- Present additional analyses of data from NEST clinical program, including health economics and patient reported outcomes.
- Report topline data from SURVEYOR Study in people with HD cognitive impairment in mid-2024.
- Report topline data from LIGHTWAVE Study in people with MCI and mild dementia due to AD in late 2024.
- Report topline data from DIMENSION Study in people with HD cognitive impairment in late 2024.
Challenges Ahead
- The Company does not anticipate receipt of any additional milestone payments from collaborations in the remainder of 2024.
- The Company anticipates operating expenses will decrease in 2024 relative to 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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