Sage Therapeutics Reports $14.1 Million Revenue in Q1 2025, Focuses on ZURZUVAE Commercialization

Sage Therapeutics, Inc. reported its financial results for the first quarter of 2025, revealing total revenues of $14.1 million, a significant increase from $7.9 million in the same period last year. The revenue growth was primarily driven by collaboration revenue from Biogen, which rose to $13.8 million from $6.2 million year-over-year. However, the company did not generate any product revenue during the quarter, a decline from $1.7 million in the previous year, following the discontinuation of its product ZULRESSO in December 2024. The net loss for the quarter was $62.2 million, an improvement compared to a net loss of $108.5 million in the first quarter of 2024.

Sage's operating expenses decreased to $81.5 million from $125.6 million in the prior year, largely due to a reduction in research and development costs, which fell to $22.8 million from $71.7 million. This decrease was attributed to the completion of clinical trials for certain product candidates, including SAGE-324 and dalzanemdor, as well as cost-saving measures implemented during a corporate reorganization in October 2024. Selling, general, and administrative expenses increased slightly to $57.6 million from $52.6 million, reflecting higher professional fees and commercial spending.

In terms of strategic developments, Sage has focused on the commercialization of its recently launched product, ZURZUVAE, which became available in December 2023 for the treatment of postpartum depression (PPD). The company reported that over 3,000 prescriptions for ZURZUVAE were shipped in the first quarter of 2025, marking a 22% increase from the previous quarter. Sage and Biogen are jointly commercializing ZURZUVAE in the U.S., sharing operating profits and losses. The company is also exploring additional indications for its product candidates, including SAGE-319 for neurodevelopmental disorders and SAGE-324 for seizures.

Looking ahead, Sage anticipates that its existing cash, cash equivalents, and marketable securities, totaling $423.9 million as of March 31, 2025, will support its operations through mid-2027. However, the company acknowledges the need for additional funding to support ongoing commercialization efforts and product development. The strategic review process initiated in January 2025, following the rejection of an unsolicited acquisition proposal from Biogen, may also impact its future operations and relationships with collaborators. Sage's management remains focused on establishing ZURZUVAE as the standard of care for women with PPD while navigating the complexities of the biopharmaceutical market.