secwatch.observer — SEC 8-K summary
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Issuer:     Sage Therapeutics, Inc. (—)
CIK:        0001597553
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001193125-24-111481
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1597553/000119312524111481/0001193125-24-111481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1597553/000119312524111481/d800679d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-111481

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer