SAGE Therapeutics (NASDAQ: SAGE) reported Q4 EPS of $18.19, $18.54 better than the analyst estimate of ($0.35). Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $55.34 million.

• Reported positive interim data from Phase 3 open-label SHORELINE Study showing that more than 70% of patients successfully treated with zuranolone 30 mg needed two or fewer treatment courses over one year
• Progressed WATERFALL Study – now closed to enrollment – investigating zuranolone for as needed treatment of major depressive disorder with data anticipated in the first half of 2021
• Entered into global collaboration with Biogen worth up to $3.1 billion, enabling planned expansion and acceleration of the Sage pipeline and increasing the potential patient reach to more than 450 million, if successful
• Initiated six late-stage clinical trials in 2020, including four Phase 3 trials
• Ended 2020 with cash balance of $2.1 billion

“Although 2020 was a challenging year, Sage’s commitment to rigorous science, innovation and disciplined execution resulted in significant progress across all of our brain health franchises, strongly positioning us in our efforts to deliver revolutionary medicines to millions of patients,” said Barry Greene, chief executive officer at Sage Therapeutics. “Our collaboration with Biogen enhances our strategic, financial, and operational flexibility, enabling our plans to expand and accelerate our pipeline and extending the potential impact of our product candidates, if we’re successful, to more than 450 million patients worldwide. In the first months of 2021, we’ve already begun to realize this expansion and acceleration with the progression of multiple early-stage programs. I believe 2021, with 10 expected data readouts, will be a transformational year for Sage in our mission to become the leading brain health company in the next five years.”

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