Here's Why Sage Therapeutics Tanked This Week
This wasn't a great week for shareholders of Sage Therapeutics (NASDAQ: SAGE). The biopharmaceutical company's stock price was cut down by investors unimpressed with clinical trial results for its most promising asset. Shares of the biotech lost 28.2% of their value this week as the first of several important phase 3 studies for zuranolone produced lackluster results.
Zuranolone is an experimental tablet Sage Therapeutics is developing in partnership with Biogen (NASDAQ: BIIB). Sage and Biogen have invested heavily into four different phase 3 trials with zuranolone as a treatment for major depressive disorder (MDD) and postpartum depression (PPD).
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Source Fool.com
