Sage Therapeutics Inc (SAGE) Announces Q3 2023 Financial Results and Highlights Pipeline Progress
Sage Therapeutics Inc (NASDAQ:SAGE) reported Q3 2023 financial results with a strong financial foundation of $876 million in cash, cash equivalents and marketable securities.
The company announced the expected wholesale acquisition cost of ZURZUVAE, the first and only oral treatment approved for adults with postpartum depression (PPD), to be $15,900.
SAGE-718, a potential treatment for Huntingtons Disease, was granted FDA Orphan Drug Designation.
Topline data from multiple ongoing Phase 2 trials are expected in 2024, providing potential for significant value creation.
On November 7, 2023, Sage Therapeutics Inc (NASDAQ:SAGE) released its third quarter financial results for the period ending September 30, 2023. The company highlighted its strong financial foundation and progress in its product pipeline.
Company Performance and Challenges
Sage Therapeutics Inc (NASDAQ:SAGE) is preparing for the commercial launch of ZURZUVAE, the first and only oral treatment specifically indicated for adults with postpartum depression. The company aims to make ZURZUVAE available later this year and to enable broad and equitable access for women with PPD who are prescribed this drug.
Financial Achievements
The company reported a strong financial foundation with $876 million of cash, cash equivalents, and marketable securities as of September 30, 2023. The expected wholesale acquisition cost of ZURZUVAE is $15,900. Sage Therapeutics Inc (NASDAQ:SAGE) is actively engaged with national, regional, and government payors to enable women with PPD who are prescribed ZURZUVAE to access treatment with minimal restrictions and, where possible, with little to no co-pay regardless of financial means.
Income Statement, Balance Sheet, Cash Flow Statement
The company reported a net loss of $201,630 for the third quarter of 2023. The total revenue for the same period was $2,716, with operating costs and expenses amounting to $214,565. The total assets as of September 30, 2023, were $949,663, with total liabilities of $133,004 and total stockholders equity of $816,659.
Analysis on the Company's Performance
The company's strong financial foundation and progress in its product pipeline demonstrate its commitment to addressing urgent unmet needs in brain health. The upcoming commercial launch of ZURZUVAE and the FDA Orphan Drug Designation for SAGE-718 are significant milestones for the company. However, the company reported a net loss for the third quarter of 2023, indicating challenges in managing operating costs and expenses.
Other Pertinent Details
Sage Therapeutics Inc (NASDAQ:SAGE) is advancing a portfolio of clinical-stage programs with internally discovered novel chemical entities that have the potential to address urgent unmet needs in brain health. The company's product pipeline provides potential for significant value creation with topline data expected from multiple ongoing Phase 2 trials in 2024.
Explore the complete 8-K earnings release (here) from Sage Therapeutics Inc for further details.
This article first appeared on GuruFocus.
