Sage’s big bet came up negative
Sage Therapeutics’ antidepressant pill, a drug long considered to have blockbuster potential, failed to distinguish itself from placebo in a late-stage trial.
The treatment, SAGE-217, led to a 12.6-point improvement on a measure of depression, while placebo charted an 11.6-point benefit. The difference was not statistically significant. Sage’s share price, which has reached above $150 on the promise of 217, could fall as much as 50%, analysts have said.
Despite the drug missing its primary endpoint, Sage CEO Jeff Jonas said the study is “directionally supportive” of the idea that 217 could work in the three other depression trials currently enrolling. “It’s like winning the silver medal,” Jonas said.
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The treatment, SAGE-217, led to a 12.6-point improvement on a measure of depression, while placebo charted an 11.6-point benefit. The difference was not statistically significant. Sage’s share price, which has reached above $150 on the promise of 217, could fall as much as 50%, analysts have said.
Despite the drug missing its primary endpoint, Sage CEO Jeff Jonas said the study is “directionally supportive” of the idea that 217 could work in the three other depression trials currently enrolling. “It’s like winning the silver medal,” Jonas said.
Read more.
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