SAGE - Sage stock hits 52-week low as departure of medical chief follows earnings miss

Sage Therapeutics (SAGE -5.7%) has approached a 52-week low after the company announced the resignation of its chief medical officer today with its Q3 2021 earnings release that also fell short of expectations. Steve Kanes is leaving the company to take over the CEO role of a private biotech, Sage (NASDAQ:SAGE) said, disclosing a series of leadership changes. Chris Benecchi has been named as the Chief Commercial Officer, and Jim Doherty will take over the position of Chief Development Officer. In upcoming milestones, the rolling submission of the NDA filing package for Zuranolone in major depressive disorder (MDD) is expected to begin in early 2022. As previously stated, Sage (SAGE) anticipates topline data from the CORAL Study for the MDD treatment in early 2022.

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Sage stock hits 52-week low as departure of medical chief follows earnings miss