Sage Therapeutics declines after stopping development of rare disease drug

Sage Therapeutics

20/11/2024 13:26

** Drug developer Sage Therapeutics'  SAGE.O  shares fall 4.3%
to $4.70 premarket
** Company says it will stop further development of its
experimental drug, dalzanemdor, after it did not meet main goal
in a mid-stage trial
    ** Sage was testing the drug to treat cognitive impairment
associated with Huntington's disease, which causes nerve cells
in the brain to decay over time
    ** 2 of 20 brokerages rate the stock "buy", 16 "hold" and 2
"sell"; median PT $9 - LSEG
    ** As of last close, stock down 77.3% YTD

(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com))