Sage Jumps 8% On Expedited Development Plan For Postpartum Depression Treatment
Sage Therapeutics Inc. shares rose 8.1% in pre-market trade Tuesday after the company said it had an expedited development plan for its postpartum depression treatment. The new plan for SAGE-547 comes after a formal meeting with the U.S. Food and Drug Administration and would support a potential approval filing with the agency in 2018, the company said. The company expects to release topline data from postpartum depression registration trials in the second half of next year. SAGE-547 was classified as a breakthrough therapy with the FDA in September, which allows the drug to be developed and possibly approved faster. Sage Therapeutics shares dropped 11.1% year-to-date, compared with a 7.9% rise in the S&P 500 .
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