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September 21, 2018

With latest drug trial, Sage catapults into top 5 most valuable Mass. biotechs

Sage Therapeutics saw its market cap jump more than $2.5 billion on Thursday after announcing that one of its depression drugs had aced a mid-stage trial, vaulting the Cambridge-based company into the state’s top five most valuable biotechs.

Sage (Nasdaq: SAGE) announced that the drug, called SAGE-217, had helped to reduce symptoms of major depressive disorder in the Phase 2 study. The 187-employee company now hopes to move the drug into a Phase 3 trial before potentially seeking approval from…

Source: Boston Biz

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