Sage Therapeutics (SAGE) 43rd Annual J.P. Morgan Healthcare Conference 2025 summary

Strategic updates and acquisition proposal

• Received an unsolicited acquisition proposal from Biogen, which is under review by financial and legal advisors and the board.

• Emphasized commitment to fiduciary responsibility and shareholder interests during the process.

Commercial performance and growth of ZURZUVAE

• ZURZUVAE is the first and only FDA-approved oral treatment for adults with postpartum depression (PPD), with over 4,100 women treated by Q3 2024 and most receiving it as first-line therapy; 70% of prescriptions are written by OB-GYNs.

• Achieved over 90% commercial and Medicaid coverage, enabling rapid home delivery of prescriptions and significant growth in new and repeat prescribers.

• High brand awareness among OB-GYNs and psychiatrists, with joint sales force expansion and targeted media, social media, and influencer campaigns planned for 2025.

• Disease awareness and education efforts are reducing stigma, improving diagnosis and treatment rates, and leveraging universal PPD screening.

• No significant Q1 seasonality expected; demand anticipated to grow steadily.

Pipeline and R&D recalibration

• R&D approach recalibrated after disappointing 2024 data in essential tremor and cognition; focus shifted to SAGE-319 and NMDA negative allosteric modulators.

• SAGE-319, an extrasynaptic-preferring GABA PAM, is in phase one with data expected late 2025, targeting behavioral symptoms in neurodevelopmental disorders.

• Decision on advancing SAGE-324 for developmental and epileptic encephalopathies expected mid-2025; Biogen terminated its rights to SAGE-324 effective February 2025, but evaluation continues.

• Pipeline leverages expertise in neuropsych and neurodevelopmental disorders, with preclinical data supporting behavioral symptom treatment.

• Focus on pipeline prioritization, business development, and advancing brain health through strategic collaborations.