Sage Therapeutics Stock Rises 12% After FDA Designates Drug a 'breakthrough Therapy'

Sage Therapeutics Inc. shares rose 11.9% in midday trade on Tuesday after the company said its postpartum depression treatment had been named a "Breakthrough Therapy" by the Food and Drug Administration, which will allow the drug to be developed and possibly approved faster. There are currently no approved therapies for postpartum depression, Sage Therapeutics said, although medications including antidepressions are often used in treatment. The drug, SAGE-547, had positive top-line results in a phase 2 trial, Sage Chief Executive Officer Jeff Jonas said. Sage Therapeutics shares rose 18.6% over the last three months, compared with a 3.6% rise in the S&P 500 .