1. Scrip
  2. >>Business
  3. >>Financing

Finance Watch: Sage Warns Of Job Cuts, Joins Peers Making Cash Last After Setbacks

 
• By Mandy Jackson

Public Company Edition: Sage will reveal cost reductions later in the third quarter after the US FDA approved zuranolone for the smaller of two depression indications. Also, Karyopharm revealed a 20% workforce reduction, Harmony accessed up to $185m in debt and Astellas invested $50m in Poseida.

Finance Watch Public Company
• Source: Alamy

Sage Therapeutics, Inc. has a lot to figure out in the coming weeks, now that the US Food and Drug Administration has approved Zurzuvae (zuranolone) for postpartum depression (PPD) but rejected the drug for major depressive disorder (MDD). The company said that while it evaluates next steps for Zurzuvae in MDD based on the FDA’s complete response letter (CRL) for that indication, it will also put together a plan that reprioritizes its spending, including a “workforce reorganization.”

Cambridge, MA-based Sage and its partner Biogen, Inc

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Hengrui Set For Biggest Biopharma IPO So Far This Year

 
• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

 
• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

More from Business

‘Unprecedented’ Data Lift AstraZeneca’s Ambitions For Airsupra

 
• By Kevin Grogan

The company hopes the drug will become the standard of care rescue treatment in asthma.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: Trump’s executive order more rhetoric than action; industry grapples with Trump pricing plan; Hengrui set for this year’s biggest IPO; Sanofi’s exec’s advice to biotechs; and biotech deal return on investment falls.

A Short History Of MASH Deals, Culminating In GSK/Boston Pharma

 
• By Joseph Haas

Both high-profile failures and small investments that are yielding success so far characterize the dealmaking in MASH over the past 15 years or so.