Sage Therapeutics Inc (FRA:SG7)

€ 5.814 0.318 (5.79%) Market Cap: 357.59 Mil Enterprise Value: -160.15 Mil PE Ratio: 0 PB Ratio: 0.70 GF Score: 46/100

Q2 2024 SAGE Therapeutics Inc Earnings Call Transcript

Jul 31, 2024 / 08:30PM GMT

Release Date Price: €9.86 (-0.76%)

Transcript 10-Q8-K

Key Points

Positve

Strong quarter-over-quarter growth in prescriptions and shipments of ZURZUVAE, with shipments nearly doubling from Q1 to Q2.
ZURZUVAE is establishing itself as a first-line therapy and standard of care for postpartum depression (PPD), with increasing demand and prescriber momentum.
Significant progress in commercial and government access for ZURZUVAE, with the majority of plans not imposing onerous prior authorizations or step edits.
Encouraging legislative support, such as the new law in Louisiana allowing women with PPD to bypass step therapy requirements and gain direct access to FDA-approved treatments.
Strategic expansion of the sales force planned for early Q4 to accelerate demand for ZURZUVAE in the treatment of PPD.

Negative

Negative results from the KINETIC 2 study of SAGE-324 in essential tremor, leading to the discontinuation of further clinical development for this indication.
Higher use of free goods programs in Q2, which may impact revenue until payer coverage improves.
Ongoing challenges in optimizing the specialty pharmacy process to ensure rapid delivery of ZURZUVAE to patients.
Net loss of $102.9 million for the second quarter of 2024, despite strong revenue growth.
Uncertainty regarding the future development of SAGE-324 for other potential indications, pending further evaluation.

Operator

Good afternoon. Welcome to SAGE Therapeutics' second-quarter 2024 financial results conference call. (Operator Instructions) This call is being webcast live on the Investors and Media section of SAGE's website at sagerx.com.

This call is a property of SAGE Therapeutics and recording, reproduction or transmission of this call without the express written consent of SAGE Therapeutics is strictly prohibited.

Please note that this call is being recorded.

I would now like to introduce Ashley Kaplowitz, Vice President of Investor Relations and Capital Markets at SAGE.

Ashley Kaplowitz

SAGE Therapeutics Inc - Investor Relations Director

Good afternoon, and thank you for joining SAGE Therapeutics' second-quarter 2024 financial results conference call. Before we begin, I encourage everyone to go to the Investors and Media section of our website at sagerx.com where you can find the press release and slides related to today's call.

I would like to point out that we will be making forward-looking statements, which are based on our

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