|Bid||0.00 x 1400|
|Ask||0.00 x 1300|
|Day's Range||73.23 - 75.66|
|52 Week Range||26.90 - 98.39|
|Beta (5Y Monthly)||2.01|
|PE Ratio (TTM)||6.53|
|Earnings Date||May 05, 2021 - May 10, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||102.10|
Sage Therapeutics unveiled promising results for its Biogen-partnered essential tremors treatment known as SAGE-324 on Monday, but Sage stock tripped on worse-than-expected side effects.
Sage Therapeutics Inc (NASDAQ: SAGE) and Biogen Inc (NASDAQ: BIIB) have scored their first but narrow win after signing their .1 billion deal last year in November. SAGE-324, the second major molecule in the pact, cleared a Phase 2 trial for essential tremor (ET), a progressive disorder that causes involuntary muscle movement. After 29 days, patients in the SAGE-324 cohort had experienced a 36% reduction in upper limb tremor amplitude, compared to a 21% reduction in the placebo group. The difference caused the trial to hit its primary endpoint with a p-value of 0.049. In patients with severe symptoms at baseline, upper limb tremor amplitude fell 41%. And the results come with 38% of the patients dropping out from the trial, and most patients reduced their dose because they had difficulty tolerating the drug. A statistically significant correlation between upper limb tremor scores and activities of daily living (ADL) results at all time points. The trial was not fully powered to examine ADL, a key measure for ET patients, but SAGE-324 numerically beat placebo. Safety and tolerability was an issue for some patients, however. The company started patients on 60-mg doses with the option to down-titrate to 45 mg or 30 mg in the event of tolerability issues at the higher dose. 62% of participants down-titrated. 38% of patients discontinued dosing altogether. Sleepiness or drowsiness was the most common treatment-emergent adverse event, affecting 68% of patients on SAGE-324. Price Action: SAGE shares are down 2.77% at $74.49, while BIIB shares dipped 1.28% at $264.74 in the market trading session on the last check Monday. See more from BenzingaClick here for options trades from BenzingaBiogen, Bio-Thera Ink Licensing Agreement For Development Of Actemra-Based Biosimilar For Rheumatoid ArthritisWhy Scholar Rock Shares Dropped Despite Positive Apitegromab Data In Spinal Muscular Atrophy© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sage Therapeutics, Inc. (Nasdaq: SAGE) and Biogen Inc. (Nasdaq: BIIB) today reported topline results from the Phase 2 KINETIC Study evaluating SAGE-324 in the treatment of people with essential tremor (ET). The study (n=67 full analysis set) achieved its primary endpoint of a statistically significant reduction from baseline compared to placebo in The Essential Tremor Rating Assessment Scale (TETRAS) Performance Subscale Item 4 upper limb tremor score on Day 29 (P=0.049), which corresponded to a 36% reduction from baseline in upper limb tremor amplitude in patients receiving SAGE-324 compared to a 21% reduction in patients receiving placebo. Activities of daily living (ADL) scores showed a statistically significant correlation with upper limb tremor score at all timepoints. While not powered to fully examine TETRAS ADL, SAGE-324 was numerically superior to placebo at all time points. Reported treatment-emergent adverse events (TEAEs) were generally consistent with the safety profile of SAGE-324 to date.