---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-111481"
form_type: "8-K"
ticker: null
cik: "0001597553"
company_name: "Sage Therapeutics, Inc."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:00:18.028075+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sage Q1: $6.2M ZURZUVAE revenue, fails Phase 2 Parkinson's study; net loss $108.5M

## Summary
- ZURZUVAE collaboration revenue $6.2M (50% of Biogen net); 700+ prescriptions shipped in Q1.
- Phase 2 PRECEDENT (dalzanemdor in Parkinson's MCI) missed primary endpoint; no further development planned.
- Cash, equivalents, securities $717M at Mar 31, 2024, down from $753M at Dec 31, 2023.
- Net loss $108.5M vs $146.8M YoY; R&D expenses $71.7M, SG&A $52.6M, both down YoY.
- Payor coverage >65% of commercial lives for ZURZUVAE; guidance: cash into 2026, expenses down in 2024.

## SEC filing metadata
- accession: 0001193125-24-111481
- form_type: 8-K
- cik: 0001597553
- company_name: Sage Therapeutics, Inc.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1597553/000119312524111481/0001193125-24-111481-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1597553/000119312524111481/d800679d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-111481
- JSON: https://secwatch.observer/filing/0001193125-24-111481.json
- Plain text: https://secwatch.observer/filing/0001193125-24-111481.txt

## Key facts
- Earnings Releases
  Sage Therapeutics, Inc. reported the first quarter ended March 31, 2024 results: revenue $6.2 million in ZURZUVAE collaboration revenue.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $6.2 million in ZURZUVAE collaboration revenue
  - Result: reported results
  source text: filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Sage Therapeutics Announces First Quarter 2024 Financial Results and Highlights Pipeline and Business Progress Achieved $6.2 million in ZURZUVAE TM (zuranolone) collaboration revenue during the first quarter of 2024, representing 50% of the net revenues reported by Biogen Encouraging initial demand for
  evidence_url: https://www.sec.gov/Archives/edgar/data/1597553/000119312524111481/0001193125-24-111481-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.