Oct 19 – Oct 21, 2020 Sage Therapeutics will lay off a little over half of its roughly 650-person workforce, ... Sage's planned layoffs hit particularly hard. Sep 16 – Sep 17, 2020
“The headwinds we are facing individually and collectively, along with a recognition of our need to move forward as a company, have led to this difficult decision. By signing up to receive our newsletter, you agree to our By signing up to receive our newsletter, you agree to our 7, 2020-- Sage Therapeutics, Inc. (NASDAQ: SAGE), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating disorders of the brain, today announced a restructuring intended to enable the Company to advance its corporate strategy and pipeline. Based on the current operating plan and assumptions, Sage expects that its balance of cash, cash equivalents, restricted cash, and marketable securities of approximately
Sep 14 – Sep 16, 2020
Most are in commercial and administrative roles, particularly ones related to Sage's approved drug for postpartum depression, Zulresso.They will leave Sage at a time when the U.S. economy, largely shuttered to prevent the spread of coronavirus infections, has taken a dramatic turn for the worse. Ned Pagliarulo The restructuring will enable the Company to focus on key strategic areas and supporting ongoing development activity, including: Further disruption from COVID-19 could threaten that plan, too, but Jonas expressed confidence that the company could meet its timelines and adapt by using telemedicine if needed. "We recognized that an important step was to reduce operating expenses as well as our workforce," said Jonas. "This is a very difficult day for Sage," said company CEO Jeff Jonas on a conference call Tuesday following the announcement.
"Zulresso is a hospital-based treatment. Getty CONTINUE TO SITE ➞ CAMBRIDGE, Mass.
The Company continues to focus on its three brain health franchises – depression, neurology and neuropsychiatry – and anticipated 2020 and 2021 R&D milestones remain unchanged. Sage Therapeutics Announces Restructuring to Advance Corporate Strategy and Pipeline • We have recently updated our Privacy Policy to include information regarding the cookies we collect. By continuing to use this website you agree to our
Some 181,000 Massachusetts residents The rapid rise of COVID-19 cases in the U.S., though, throws Sage's ability to sell Zulresso in further doubt.
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"We've seen several sites pause infusing at this point as they work through the COVID situation." We are in competition for beds with COVID-19," said Mike Cloonan, Sage's chief business officer, on Tuesday's call. • That will help push out its cash runway to 2022, the company estimated.All three planned Phase 3 trials of zuranolone in major depressive disorder and postpartum depression will be launched this year, with first results by sometime early next if all goes to plan. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements, including the risks that: we may not realize expected cost savings from the restructuring, including the anticipated decrease in external spend, at the levels we expect; we may encounter delays in initiation or conduct of our planned clinical trials, including slower than expected site initiation or enrollment, that may impact our ability to meet our expected time-lines and increase our costs; the internal and external costs required for our ongoing and planned activities, and the resulting impact on expense and use of cash, may be higher than expected which may cause us to use cash more quickly than we expect or change or curtail some of our plans or both; our expectations as to expenses, cash usage and cash needs may prove not to be correct for other reasons such as changes in plans or actual events being different than our assumptions; we may be opportunistic in our future financing plans even if available cash is sufficient; we may not be successful in our development of any of our product candidates in any indication we are currently pursuing or may in the future pursue; success in our non-clinical studies or in earlier clinical trials may not be repeated or observed in ongoing or future studies, and ongoing and future non-clinical and clinical results may not meet their primary or key secondary endpoints or be sufficient to file for or gain regulatory approval to market the product without further development work or may not support further development at all; we may encounter adverse events at any stage of development that negatively impact further development or that require additional nonclinical and clinical work which may not yield positive results; we may encounter different or more severe adverse events at the higher doses we are planning to study in new trials; we may encounter issues with the efficacy or durability of short-term treatment, or co-initiated treatment with zuranolone or safety and efficacy concerns with respect to retreatment that require additional studies be conducted; the FDA may ultimately decide that the design or results of our completed and planned clinical trials for any of our product candidates, even if positive, are not sufficient for regulatory approval in the indications that are the focus of our development plan; other decisions or actions of the FDA or other regulatory agencies may affect the initiation, timing, design, size, progress and cost of clinical trials and our ability to proceed with further development; the spread of the COVID-19 pandemic and related fears in the SAGE CENTRAL, the SAGE CENTRAL logo, ZULRESSO, the ZULRESSO logo, SAGE THERAPEUTICS, and the SAGE THERAPEUTICS logo are trademarks of Sage Therapeutics, Inc.