Sage Therapeutics falls after Biogen terminates tremor drug partnership

Sage Therapeutics

26/09/2024 12:45

** Shares of drug developer Sage Therapeutics  SAGE.O  fall
1% to $6.95 premarket
    ** Company says partner Biogen  BIIB.O  has terminated a
licensing deal for Sage's experimental drug to treat essential
tremor, effective February 2025
    ** Sage had discontinued development of the drug, SAGE-324,
after it failed in a mid-stage study in July  
    ** Sage and Biogen will continue to partner on Zurzuvae, the
first and only FDA-approved oral treatment for women with
postpartum depression - SAGE
    ** Sage says it plans to continue to evaluate other
potential indications, if any, for SAGE-324
    ** Up to last close, stock down ~68% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))