Sage Therapeutics shares soar more than 65% on positive trial of depression treatment
Sage Therapeutics Inc. shares soared more than 65% in premarket trade Thursday, after the company reported positive results in a midstage trial of a depression treatment. Sage said the Phase 2 trial of Sage-217 involving 89 adult patients with moderate to severe major depressive disorder met its primary and secondary endpoints. These very encouraging data suggest the potential of SAGE-217 in the treatment of MDD as well as other mood-related disorders that we may pursue," Sage Chief Executive Jeff Jonas M.D. said in a statement. There has been little innovation in depression treatments in the last two decades, he said. Shares have gained 80% in 2017 through Wednesday, while the S&P 500 has gained 17%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.