Sage Therapeutics (SAGE) Q1 2025 Earnings Call April 29, 2025 09:18 PM ET Speaker0 Good afternoon. Welcome to Sage Therapeutics First Quarter twenty twenty five Financial Results Conference Call. Currently, all participants are in a listen only mode. This call is being webcast live on the Investors and Media section of Sage's website at sagerx.com. This call is the property of Sage Therapeutics and recording, reproduction or transmission of this call without the expressed written consent of Sage Therapeutic ...

First Quarter 2025 Financial Results April 29, 2025 Safe Harbor Statement Sage Therapeutics © 2025 2 Barry Greene Chief Executive Officer Chris Benecchi Chief Operating Officer Mike Quirk • The slides presented today and the accompanying oral presentations contain forward-looking statements, which may be identified by the use of words such as "may," "might," "will," "should," "can," "expect," "plan," "anticipate," "believe," "estimate," "project," "intend," "future," "opportunity", "goal", "mission", "visio ...

Sage Therapeutics, Inc. (SAGE) came out with a quarterly loss of $1.01 per share versus the Zacks Consensus Estimate of a loss of $0.99. This compares to loss of $1.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.02%. A quarter ago, it was expected that this company would post a loss of $1.45 per share when it actually produced a loss of $1.56, delivering a surprise of -7.59%.Over the last four quarters, the company has ...

Financial Position - As of March 31, 2025, the company's total cash equivalents amounted to $42.139 million, a decrease from $80.239 million as of December 31, 2024[80][81]. - The total marketable securities held by the company as of March 31, 2025, were valued at $378.630 million, down from $423.397 million as of December 31, 2024[80][83]. - The company held cash, cash equivalents, and marketable securities totaling $423.9 million as of March 31, 2025[267]. - The company does not expect significant impact from fluctuations in interest rates on its financial condition due to the short-term nature of its cash and marketable securities[267]. - The company has exposure to foreign currency exchange rate fluctuations but considers this exposure to be immaterial[268]. - Inflation has not materially affected the company's results of operations during the three months ended March 31, 2025, and 2024[270]. Marketable Securities and Investments - The company reported unrealized losses of $82,000 on its marketable securities as of March 31, 2025, attributed to interest rate increases[84]. - The fair value of U.S. corporate bonds held by the company was $253.414 million as of March 31, 2025, compared to $269.013 million as of December 31, 2024[82][83]. - The company had accrued interest receivable of $2.7 million related to available-for-sale securities as of March 31, 2025[83]. - All marketable securities held by the company had remaining contractual maturities of one year or less, except for U.S. corporate bonds and international corporate bonds with a fair value of $40.0 million and maturities of one to two years as of March 31, 2025[85]. - The company did not experience any impairments of assets measured and carried at fair value during the three months ended March 31, 2025[87]. - The company performed validation procedures on fair value measurements and did not adjust any provided by pricing services as of March 31, 2025[79]. Legal and Regulatory Matters - The Company is involved in a federal securities class action lawsuit alleging violations of U.S. securities laws, with unspecified damages sought for stock purchases made between April 12, 2021, and July 23, 2024[89]. - The Company received a subpoena from the SEC regarding zuranolone for MDD treatment, and is cooperating with the investigation[90]. - The Company is unable to predict the outcome of ongoing legal proceedings or reasonably estimate potential losses[93]. Collaborations and Revenue - The Company entered a strategic collaboration with Shionogi for zuranolone, with an upfront payment of $90 million and potential milestone payments of up to $485 million[95]. - The Company achieved a $75 million milestone for the first commercial sale of ZURZUVAE for treating women with PPD in the U.S. in Q4 2023[106]. - The Biogen Collaboration Agreement allows for potential milestone payments of up to $1.6 billion, but the Company will not receive $150 million for MDD due to halted development[106]. - The Company is eligible for tiered royalties on net sales of SAGE-217 products in the Biogen Territory, ranging from high teens to low twenties percentage rates[108]. - The Biogen Collaboration Agreement will continue until royalty terms expire in the Biogen Territory, with Biogen responsible for development and commercialization costs[112]. - The Company maintains exclusive rights to develop and commercialize zuranolone outside the Shionogi Territory[95]. - In Q4 2023, the Company recognized $75 million in license and milestone revenue related to the first commercial sale of ZURZUVAE for the treatment of women with PPD in the U.S.[119]. - For the three months ended March 31, 2025, collaboration revenue from Biogen was $13.8 million, compared to $6.2 million for the same period in 2024[123]. - The Company recorded a collaboration receivable of $10.7 million as of March 31, 2025, representing net reimbursement amounts due[123]. Stock-Based Compensation and Equity - The Company has an ATM Sales Agreement allowing for the sale of up to $250 million in common stock, with no shares sold under this agreement as of March 31, 2025[131][136]. - The 2024 Equity Incentive Plan was approved, allowing for the grant of up to 16,502,166 shares of common stock[138]. - As of March 31, 2025, the total number of shares underlying outstanding awards under the 2024 Plan, the 2014 Plan, and the 2016 Plan was 8,782,994, with 6,214,108 shares available for future issuance under the 2024 Plan[142]. - The Company granted 1,493,452 time-based restricted stock units during the three months ended March 31, 2025, compared to 857,084 in the same period of 2024[147]. - The total unrecognized stock-based compensation expense related to time-based restricted stock units was $15.8 million, expected to be recognized over a remaining weighted average vesting period of 3.57 years[148]. - The Company recorded stock-based compensation expense of $6.9 million for the three months ended March 31, 2025, down from $13.7 million in the same period of 2024[161]. - As of March 31, 2025, the total unrecognized stock-based compensation expense related to performance restricted stock units was $34.4 million[154]. - The Company accepted for exchange eligible options to purchase a total of 3,079,608 shares, granting replacement options for a total of 1,483,113 shares with an exercise price of $22.20 per share[144]. - The Company expects to incur a total of $1.7 million of additional stock-based compensation expense as a result of the Option Exchange, to be recognized over the 18-month vesting period[145]. Financial Performance - The net loss for the three months ended March 31, 2025, was $62.2 million, resulting in a basic and diluted net loss per share of $1.01, compared to a net loss of $108.5 million and a loss per share of $1.80 in 2024[163]. - Revenues for the three months ended March 31, 2025, were $14,063,000, a 77.5% increase from $7,902,000 in the same period of 2024[172]. - Net loss for the three months ended March 31, 2025, was $(62,214,000), a significant improvement compared to $(108,483,000) in the same period of 2024, reflecting a reduction of 42.7%[172]. - Program expenses for zuranolone (ZURZUVAE) increased to $12,010,000 in Q1 2025 from $5,257,000 in Q1 2024, representing a 128.5% increase[172]. - Non-program expenses decreased to $19,258,000 in Q1 2025 from $22,131,000 in Q1 2024, indicating a reduction of 12.6%[172]. - Total restructuring charges incurred through March 31, 2025, amounted to $32.9 million, with no related expenses recorded during the three months ended March 31, 2025[165]. - Total charges related to the 2024 Restructuring incurred through March 31, 2025, are $22.8 million, which is the total expected amount to be incurred[167].

Exhibit 99.1 "We delivered strong growth in revenue and shipments of ZURZUVAE during the first quarter of 2025 through the team's disciplined execution and unwavering commitment to bringing ZURZUVAE to more women with postpartum depression," said Barry Greene, Chief Executive Officer at Sage Therapeutics. "We remain focused on establishing ZURZUVAE as the standard of care for women with postpartum depression and driving our business strategy forward with the goal of creating value for shareholders." First Q ...

PHILADELPHIA, April 10, 2025 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Sage Therapeutics, Inc. (NASDAQ: SAGE) (“Sage”) on behalf of the company’s long-term investors. Click here for additional information: https://kaskelalaw.com/case/sage-therapeutics/ Recently a securities fraud complaint was filed against Sage on behalf of certain investors who purchased or acquired shares of the company’s stock between April 12, 2021 and July 23, 2024 (the “Class Period”). According to the co ...

Start Time: 16:30 January 1, 0000 5:19 PM ET Sage Therapeutics, Inc. (NASDAQ:SAGE) Q4 2024 Earnings Conference Call February 11, 2025, 16:30 PM ET Company Participants Barry Greene - CEO Chris Benecchi - COO Laura Gault - CMO Mike Quirk - CSO Ashley Kaplowitz - VP, IR and Capital Markets Conference Call Participants Ritu Baral - TD Cowen Anupam Rama - JPMorgan Paul Matteis - Stiefel Tazeen Ahmad - Bank of America Ami Fadia - Needham Douglas Tsao - H.C. Wainwright Uy Ear - Mizuho Joel Beatty - Baird Sumant K ...

Fourth Quarter and Full Year 2024 Financial Results February 11, 2025 − We may encounter unexpected safety or tolerability issues with respect to any of our product candidates or marketed products; we may encounter different or more severe adverse events at higher doses, different frequency or length of dosing or in new indications. − At any stage, regulatory authorities may ask for additional clinical trials, non-clinical studies or other data in order for us to proceed further in development or to file fo ...

Sage Therapeutics, Inc. (SAGE) came out with a quarterly loss of $1.56 per share versus the Zacks Consensus Estimate of a loss of $1.45. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.59%. A quarter ago, it was expected that this company would post a loss of $1.52 per share when it actually produced a loss of $1.53, delivering a surprise of -0.66%.Over the last four quarters, the company has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36544 Sage Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation o ...