SAGE remember when you thought you were going to BIG

It really doesn't matter what the outcome is because most have come to realize this is not a good company on so many levels. Very poor leadership. Most are actively interviewing.

 

True, I’m just commenting on the endless acquisition comments. This company has a much higher likelihood of going bankrupt than being acquired.

 

Okay, if you know so much, why don’t you refute what I actually said?

 

No way

 

The company is burning at least $600-700 M a year, not including any any new 217 trials that the FDA will require or any larger clinical spend on 324 or 718. The company has $950 M in cash left. The company will be out of cash in a year, maybe less, unless it makes major cuts or Zulresso launch really takes off, but the problem is that the company needs to make the cuts soon and has to decide how much its willing to cut Zulresso out at the knees before the launch can ever really take off.

Sage could raise more money from investors but need to have positive and very clear direction from FDA soon in order to do that and I'm not sure that's going to happen. Plus, the company can only really raise 3-6 months of cash at this stock price which isn't going to move the timeline significantly.

The company is between a rock and a hard place right now. It's always been a 217 MDD story and that may be unclear for a few years now. There isn't much time to figure this out.

 

The company will do what’s necessary so they can continue on, even if it means making major cuts, which is fine by me. I hope I’m on the chopping block.

 

I wouldn’t expect much, if any severance.

 

Did anyone come away with anything positive, from the team meetings, during the last few weeks?

 

Yes! We really need to generate more referrals in order to meet our infusion target (3x referrals the number of infusions). Given that it can take time for the treatment to be approved, we need the referrals 8 weeks before close of quarter. Also, we really need to continue to find advocates to help drive referrals. Lastly, referrals.

 

This is tongue in cheek, right? I want to believe it is, but have been on this crazy train too long. But it has to be a joke, right!?

 

This is so true. It is terrifying to work here anymore. What were the meetings like? Major depressive episodes. A lot of tears and a lot of frustration. I don't want anyone to lose their job but I think this company is going to make cuts even when they said they wouldn't. And a severance? Forget it. One thing I learned through this process is that this company really doesn't care about their employees. Watch your backs and start looking for a new job to protect yourself before the floor drops beneath you.

 

buahahaha! Yes, and no. Referrals were stressed throughout of course. Honestly, I thought our meeting was fine, and pretty realistic. Our RBD did a pretty good job insulating us from the heat at the area level, but we can still see and feel it.

Maybe a different feel at our national meeting...errrr. Is that still “postponed” or have they finally told us it’s been indefinitely cancelled?

 

They’ve never come out and told us in an official way. Send an email, not hard! Sales leadership is lacking in a big way. They’re so busy biking to work, doing yoga and having “off site” meetings that there’s no time to email us little people. They should cut some management. From high level down to RBD level. Such a waste of money! Way too many people in management roles sucking all of the money out of this place

 

Have you attended the past couple of town halls? There were comments that insinuated cuts would have to be made.

 

Yes pretty unbelievable right? Not one email about Mary M. the director of Marketing, not one email about National sales meeting. Communication here is the absolute worst. Frank and Matt are the absolute worst. Zero transparency.

 

For the love of God, PLEASE cut back on the RBDs!!!! Or reassign them to something that is actually beneficial to moving business. I’m sick of all the emails, them needing to be involved in stuff they don’t need to be involved with just to justify their paychecks; I’m sick of “where are we at with” and most of all, I’m sick of constantly being asked to give more physicians and more moms false hope that they can get treated just so I can make my team and area look like we’re doing better than we actually are. I have some incredible colleagues and teammates and we attempt to keep eachother sane but I think at least half of us are now in therapy. We are sharing job leads and resume tips just to help eachother escape the madhouse.

 

Wow- I don’t know who wrote this- but this is exactly how I feel. Whoever this is- I feel this so much!!!!

 

There is definitely no national meeting. Possibility of area meetings, in early May. I honestly think we're all up sh*t creek! Zulresso cannot float the organization with current headcount and additional R&D dollars that will be needed for 217. Buyout would be great. Cash raise would help, but wouldn't cover for long.

Just my opinion but...the list of the 42 "prioritized accounts"....28 are listed as "infusing" and 5 are listed as "treatment ready". If you aren't in or very close to one of those markets, then...well...probably good place to consolidate heads. Or it could be just another b.s. list spin up a story that sounds rosy.