SAGE Therapeutics Inc (NASDAQ:SAGE) has every reason to celebrate following the announcement of positive results in the testing of its depressive disorder (MDD) treatment. The Cambridge, Mass.-based biopharmaceutical company says that this was an incredible milestone, which resulted in the soaring of its shares by 75%. As if this was not enough, speculations indicate that the probability of the drug’s approval by the FDA is likely to increase by 80%.
Apparently, this is the second time the company is having a successful trial in as many months as the company can remember. Earlier last month, Sage had a trial of brexanolone, a drug used in treating moderate and severe postpartum depression.
Sage is on the edge of a major discovery
The Biotech is optimistic about having its experimental drug becoming a solution of millions of people suffering from postpartum depression. The drug, which is formerly known as SAGE-547 has so far demonstrated a significant level of reduction of depression symptoms after being used for only 60hhours. There was also a rapid reduction in treatment time compared to the currently available options which include counseling, medication, and anti-depressants. All these take time before their effect can be felt.
How does postpartum depression come about? More often than not, it is characterized by symptoms such as sadness and anxiety to a point why the victims cannot take care of themselves. It is a condition commonly found in women about 10 to 20 percent of women. Apparently, many of them are either undiagnosed or are diagnosed at later stages.
The company’s aim to increase its market share
It seems like Sage has set its stage in becoming the next big thing in the pharmaceutical industry. The premarket trading alone garnered 44% from its stock. According to Jonas, there is no reason as to why the company should look back. In any case, its aim is in creating opportunities, which provide the development of treatments for PPD.
The company, which had 135 employees as of February seems to be making big strides according to analysts from Canaccord Genuity. Speaking to on CNBC’s Power Lunch Sage’s CEO Jeff Jonas stated that they are at a point of a major breakthrough.