Neurodegenerative Disorder-Focused Sage Therapeutics Stock Falls On Disappointing Parkinson's Data
Portfolio Pulse from Vandana Singh
Sage Therapeutics Inc (NASDAQ:SAGE) reported disappointing results from its Phase 2 PRECEDENT study of dalzanemdor (SAGE-718) in mild cognitive impairment in Parkinson's Disease, failing to meet its primary endpoint. The drug was well-tolerated with no new safety issues, but due to the lack of significant efficacy, the company will not continue its development for Parkinson's Disease. However, Sage Therapeutics plans to proceed with dalzanemdor's Phase 2 clinical development for other conditions, with key milestones expected in 2024. Following the news, SAGE shares dropped 23.80% to $11.91.
April 17, 2024 | 4:41 pm
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NEGATIVE IMPACT
Sage Therapeutics' stock fell 23.80% after disappointing Phase 2 results for dalzanemdor in Parkinson's Disease, with no plans to continue its development for this condition.
The significant drop in SAGE's stock price is directly attributed to the negative outcome of the Phase 2 PRECEDENT study for dalzanemdor in Parkinson's Disease. The decision not to pursue further development for Parkinson's Disease likely contributed to investors' negative reaction, reflecting concerns over the drug's commercial potential and the company's future revenue prospects. The stock's sharp decline is a direct response to these developments.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100