SAGE Therapeutics (NASDAQ: SAGE) reported Q3 EPS of ($3.48), $0.12 worse than the analyst estimate of ($3.36). Revenue for the quarter came in at $3.57 million versus the consensus estimate of $3.6 million.

“Sage’s approach to drug discovery and development has led to the significant progress we have made during the third quarter,” said Jeff Jonas, M.D., chief executive officer of Sage Therapeutics. “We are pleased with the execution by our teams at Sage. Our Depression Franchise continues to advance, our SAGE-217 studies are progressing well, and the launch of ZULRESSO in postpartum depression is yet another step towards upending conventional wisdom about treating psychiatric disorders. On top of this, our early stage pipeline continues to expand. We are looking forward to the upcoming data readout for SAGE-217, and we are excited by the possibilities in front of us.”

Financial Guidance

• Based on its current operating plan, Sage anticipates that its balance of cash, cash equivalents, restricted cash, and marketable securities will be at least $950 million at the end of 2019.
• Sage expects ZULRESSO revenue growth will be modest over the next few quarters and anticipates a meaningful increase in ZULRESSO revenue in the second half of 2020.

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