SAGE - Sage Therapeutics posts Q3 earnings miss pipeline update

Sage Therapeutics (NASDAQ:SAGE) posted third-quarter revenue and profit that missed Wall Street estimates and provided an update on its drug development pipeline. Quarterly revenue fell over 12% to $1.44M, missing analysts' average estimate by $0.53M. Research and development expenses were $83.5M in the third quarter of 2021 compared to $74.1M in the same period last year. The primary reasons for the increase in expenses were manufacturing-related activities for zuranolone, work on studies that began in 2021 and work on research activities, among others. NDA submission for zuranolone for the treatment of major depressive disorder expected to be filed in the second half of 2022, with rolling submission planned to begin in early 2022. The company also highlighted continued pipeline progress across brain health franchises, with plans to initiate three Phase 2 studies across SAGE-324 and SAGE-718 programs. Cash, cash equivalents and marketable securities as of September 30, 2021 were $1.8B compared

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Sage Therapeutics posts Q3 earnings miss, pipeline update