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Biotech Sage Therapeutics skyrockets 70 percent after depression drug breakthrough

Apportionments of Sage Therapeutics soared 70 percent on Thursday after the New Zealand announced positive results in the testing a major depressive disorder (MDD) treatment.

Prudent said in a release that 64 percent of patients achieved MDD amnesty using the SAGE-217 drug in the 15th day of treatment.

This is the second rich drug trial result in as many months for Sage. On Nov. 9, the society said brexanolone — a drug aimed at treating moderate and severe postpartum despondency — met its main goal in two late-stage studies. The stock shot up 54.2 percent that day and is up 44.1 percent past the past month.

“These very encouraging data suggest the possibility of SAGE-217 in the treatment of MDD as well as other mood-related disorders that we may stay with,” CEO Jeff Jonas said in a statement. “The positive activity and safety decrees of SAGE-217 in MDD support advancing the program into later dais clinical development.”

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