Sage Stock Drops Despite Promising Phase III Depression Data

Sage Therapeutics endured a tough trading session Wednesday, with its stock down approximately 13% at market close, reaching its lowest level since November 2022.

The price drop comes after Biogen CEO Christopher Viehbacher seemed to avoid the topic of Sage-partnered depression drug zuranolone in his prepared statements during the company’s second-quarter earnings call Tuesday, mentioning the drug candidate only once in his closing remarks. Biogen also left zuranolone out completely from its news release announcing second-quarter financial results.