After Series Of Trial Setbacks, Sage Therapeutics To Lay Off One-Third Workforce

On Thursday, Sage Therapeutics, Inc. (NASDAQ:SAGE) announced a strategic reorganization of its business operations to support the ongoing launch of Zurzuvae (zuranolone) in postpartum depression.

The reorganization is intended to enable Sage to strengthen its balance sheet, extend its cash runway, and position the company for long-term growth potential.

The reorganization is planned to be substantially completed by the end of the fourth quarter of 2024.

The company will lay off over 165 employees (approximately 33% of its total workforce and approximately 55% of its R&D workforce), including changes to the leadership team.

Sage expects a non-recurring charge of approximately $26 million to $28 ...

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