Sage Therapeutics (SAGE) Q1 Earnings Miss, Sales Beat Estimates

Zacks04-26

Sage Therapeutics SAGE reported a loss of $1.80 per share in the first quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.63. The company reported a loss of $2.46 per share in ...

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The company reported a loss of $2.46 per share in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/sage-therapeutics-sage-q1-earnings-152700173.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sage Therapeutics (SAGE) Q1 Earnings Miss, Sales Beat Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSage Therapeutics (SAGE) Q1 Earnings Miss, Sales Beat Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 23:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sage-therapeutics-sage-q1-earnings-152700173.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sage Therapeutics SAGE reported a loss of $1.80 per share in the first quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.63. The company reported a loss of $2.46 per share in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/sage-therapeutics-sage-q1-earnings-152700173.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ANIP","symbol_name":"ANI Pharmaceuticals, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/sage-therapeutics-sage-q1-earnings-152700173.html","article_id":"2430475783","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/B7EfA6ERTo_QO90H15uyXw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9c1d11cd27737fac4805145de6e5eee0"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430475783","pubTimestamp":1714145220,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Sage Therapeutics SAGE reported a loss of $1.80 per share in the first quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.63. The company reported a loss of $2.46 per share in the year-ago quarter.Revenues in the quarter totaled $7.9 million, significantly up on a year-over-year basis compared with $3.3 million in the year-ago period. The upside can be attributed to the encouraging uptake for the recently-launched depression drug Zurzuvae , marketed in partnership with Biogen BIIB. The reported figure beat the Zacks Consensus Estimate of $6 million.Total revenues in the reported quarter comprised product and collaboration revenues.Product revenues came in at $1.7 million recorded from the company’s first marketed drug, Zulresso , approved by the FDA in 2019 as the first-ever FDA-approved treatment for adults with postpartum depression . Zulresso sales plunged 49% year over year.Collaboration revenues from the sale of Zurzuvae was $6.2 million in first-quarter 2024","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ANIP":"ANI Pharmaceuticals, Inc.","BIIB":"渤健公司","SAGE":"Sage Therapeutics","LGND":"Ligand Pharmaceuticals Inc."},"translate_title":"Sage Therapeutics（Sage）第一季度收益低于预期，销售额超过预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SAGE":1,"ANIP":0.9,"BIIB":0.9,"LGND":0.9},"content_text":"Sage Therapeutics SAGE reported a loss of $1.80 per share in the first quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.63. The company reported a loss of $2.46 per share in the year-ago quarter.\nRevenues in the quarter totaled $7.9 million, significantly up on a year-over-year basis compared with $3.3 million in the year-ago period. The upside can be attributed to the encouraging uptake for the recently-launched depression drug Zurzuvae (zuranolone), marketed in partnership with Biogen BIIB. The reported figure beat the Zacks Consensus Estimate of $6 million.\nQuarter in Detail\nTotal revenues in the reported quarter comprised product and collaboration revenues.\nProduct revenues came in at $1.7 million recorded from the company’s first marketed drug, Zulresso (brexanolone), approved by the FDA in 2019 as the first-ever FDA-approved treatment for adults with postpartum depression (PPD). Zulresso sales plunged 49% year over year.\nCollaboration revenues from the sale of Zurzuvae was $6.2 million in first-quarter 2024, the first full quarter of sales. This reported figure accounts for 50% of net revenues Biogen reported for the drug in the United States.\nThe first and only oral treatment indicated for adults with PPD, Zurzuvae was approved last August and commercially launched in December. Sage, along with partner Biogen, equally shares profits and losses for the commercialization of Zurzuvae in the United States. In ex-U.S. markets, Biogen records product sales (excluding Japan, Taiwan and South Korea, where Shionogi holds the rights) and pays royalties to Sage.\nSage and Biogen are focused on establishing Zurzuvae as a first-line therapy and the standard of care for women with PPD. Management claimed that more than 700 prescriptions were shipped and delivered during the quarter.\nResearch & development (R&D) expenses were $71.7 million, down 23% from the year-ago quarter’s levels. The downside was due to cost-saving measures, including reduced headcount and expenditures and reprioritization of early-stage pipeline programs.\nSelling, general and administrative expenses (SG&A) declined 20% from the prior-year quarter’s figure to $52.6 million. The downside was caused by reduced headcount and budgeted expenditures.\nYear to date, the stock has plunged 37.3% compared with the industry’s decline of 12%.\nImage Source: Zacks Investment Research\nThe company had $717 million in cash, cash equivalents and marketable securities as of Mar 31, 2024, compared with $753 million on Dec 31, 2023. This cash balance, combined with expected funding from collaboration revenues, is expected to support the company’s operations into 2026.\n2024 Guidance\nManagement does not expect receipt of any milestone payments from collaborations in the remainder of 2024.\nThe company anticipates operating expenses to decline in 2024 compared with the year-ago period’s levels.\nPipeline Updates\nSage currently focuses on developing its lead neuropsychiatric and neurology programs, dalzanemdor (formerly SAGE-718) and SAGE-324, respectively.\nLast week, Sage shared topline results from the mid-stage PRECEDENT study on dalzanemdor in certain patients with Parkinson’s disease (PD). The study failed to achieve its primary endpoint. Based on this outcome, management decided not to pursue the development of the drug in PD indication.\nApart from PD, Sage Therapeutics is evaluating dalzanemdor as a potential treatment for patients with cognition dysfunction caused by Huntington’s disease (HD) across three ongoing clinical studies — two phase II studies (DIMENSION and SURVEYOR) and a phase III study (PURVIEW). The candidate is also being evaluated in a mid-stage study for treating cognitive issues associated with Alzheimer’s disease. Data from these studies are expected throughout this year.\nSage is also evaluating SAGE-324 in the mid-stage KINETIC 2 study as a potential treatment for patients with essential tremors. The top-line data from the KINETIC 2 study is expected in mid-2024. This candidate is being developed in collaboration with Biogen.\n\nSage Therapeutics, Inc. Price\n\nSage Therapeutics, Inc. price | Sage Therapeutics, Inc. Quote\n\n \nZacks Rank & Key Picks\nSage currently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the overall healthcare sector include ANI Pharmaceuticals ANIP and Ligand Pharmaceuticals LGND,each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nIn the past 60 days, estimates for ANI Pharmaceuticals’ 2024 EPShave risen from $4.12 to $4.43. Meanwhile, during the same period, EPS estimates for 2025 have improved from $4.80 to $5.04. Year to date, shares of ANIP have risen 17.8%.\nEarnings of ANI Pharmaceuticals beat estimates in each of the last four quarters. ANI delivered a four-quarter average earnings surprise of 109.06%.\nIn the past 60 days, estimates for Ligand Pharmaceuticals’ 2024 earnings per share (EPS) have risen from $4.42 to $4.56. During the same period, EPS estimates for 2025 have improved from $5.11 to $5.27. Year to date, shares of LGND have lost 1.5%.\nEarnings of Ligand Pharmaceuticals beat estimates in each of the last four quarters. Ligand delivered a four-quarter average earnings surprise of 84.81%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBiogen Inc. (BIIB) : Free Stock Analysis Report\nLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report\nANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report\nSage Therapeutics, Inc. (SAGE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430475783"}