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Here's Why Sage Therapeutics Tanked This Week

TheMotleyFool

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Here's Why Sage Therapeutics Tanked This WeekPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

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).

Image source: Getty Images.

Source Fool.com

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