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Dec 31, 2023
Sage Q4 2023 Earnings Report
Sage reported Q4 2023 financial results and pipeline progress, highlighted by the commercial availability of ZURZUVAE and encouraging early launch results.
Key Takeaways
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.
Revenue by Segment
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.
Positive Outlook
- 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.
Challenges Ahead
- The Company does not anticipate receipt of any milestone payments from collaborations in the remainder of 2024.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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