The shares of SAGE Therapeutics Inc(NASDAQ: SAGE) generated a solid returns of over 50.3% (as of November 22nd, 2017; Source: Google finance) in the last four weeks driven by their positive results and fund raising.
The group reported positive top-line results from their two Phase 3 clinical trials with its proprietary i.v. formulation of brexanolone (USAN; formerly SAGE-547); Study 202B in severe postpartum depression (PPD) and Study 202C in moderate PPD. The study showed a major mean reduction in the HAM-D score as compared to placebo at 60 hours indicating in both trials. Brexanolone offered a rapid and durable decrease of over 30 days in depressive symptoms as measured by HAM-D in both placebo-controlled multi-center trials.
The group is pursuing a translational clinical strategy which begins with open label trials in a carefully selected disease indication, like PPD, where patients are in need of transformative treatment options. Their brexanolone research for treating PPD followed this path, leading to the positive data.
The group is making a public offering of 3,529,411 shares of its common stock for $85.00 per share to raise over $300.0 million. Moreover, the group granted the underwriters a 30-day option to buy up to a further 529,411 shares of its common stock.
The group is focusing on the underlying mechanisms of CNS disorders and developing novel treatments that could address the present treatment gaps. They are advancing a portfolio of novel CNS product candidates aiming the GABA and NMDA receptor systems. They are also seeking a data-driven approach to CNS drug development by using human proof-of-concept methodology studies to uncover activity signals as well as to help understand potential trial design.
SAGE Therapeutics has a Cash, of $243.5 million as of the third quarter of 2017 from $397.5 million at December 31, 2016. Their Research and development expenses surged to $58.3 million, including $5.4 million of non-cash stock-based compensation expense, from $29.1 million in pcp. Accordingly, they reported a net loss of $73.7 million for the third quarter of 2017, from net loss of $37.8 million in p