Sage, Biogen Shelve Development Of Nervous System Disorder Drug After Data Disappoints
Portfolio Pulse from Vandana Singh
Sage Therapeutics Inc. (NASDAQ:SAGE) and Biogen Inc. (NASDAQ:BIIB) announced disappointing results from the Phase 2 KINETIC 2 study of SAGE-324 for essential tremor, leading to the discontinuation of its development. SAGE stock fell 16.4%, while BIIB stock saw a slight increase of 0.19%.
July 24, 2024 | 3:05 pm
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Sage Therapeutics announced disappointing Phase 2 results for SAGE-324, leading to the discontinuation of its development. The stock fell 16.4%.
The discontinuation of SAGE-324 development is a significant setback for Sage Therapeutics, leading to a sharp decline in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Biogen announced disappointing Phase 2 results for SAGE-324, leading to the discontinuation of its development. The stock saw a slight increase of 0.19%.
While the discontinuation of SAGE-324 is a setback, Biogen's stock saw a slight increase, indicating limited short-term impact.
CONFIDENCE 100
IMPORTANCE 70
RELEVANCE 100