Sage Therapeutics Implements Strategic Reorganization to Support Plans for ZURZUVAE Commercial Launch and Pipeline Advancement

Sage Therapeutics, Inc. (Nasdaq: SAGE), today announced plans to reorganize its business operations and pipeline priorities to support goals for long-term business growth, including the planned commercial launch of ZURZUVAE for women with postpartum depression (PPD) in late 2023.

“Our goal is to think big, start small and scale fast as we look to launch ZURZUVAE and help women suffering with PPD​. Executing on launch and our potential long-term growth catalysts requires us to allocate resources strategically,” said Barry Greene, Chief Executive Officer at Sage Therapeutics. “Part of our efforts to become a leaner and stronger company means having to reorganize our workforce. The departing employees contributed so much to our mission and I’m grateful for their incredible dedication to helping patients. Our business fundamentals are strong, we are well capitalized, and our goal is to put Sage in a solid position to optimize commercial execution and develop our pipeline with the goal of significant value creation.”

Following a strategic review, the company will:

• Refine pipeline development efforts to advance SAGE-718 and SAGE-324, as well as pause certain earlier-stage programs, with the goal of making evidence-driven investments
• Implement a ~40% workforce reduction designed to right-size the organization as the company works to achieve sustained growth and allow for commercial hires to support the goal of a successful launch of ZURZUVAE to treat women with PPD
• Align its leadership team structure to scale with pipeline and commercial priorities

The changes to Sage’s leadership team are designed to help support the company’s future priorities. Al Robichaud, Sage’s Chief Scientific Officer since its founding in 2011, has decided to depart Sage. Al will remain as a scientific consultant and member of Sage’s Medicinal Chemistry and Pre-Clinical Scientific Advisory Boards. Mike Quirk will be promoted from SVP of Discovery Research to Chief Scientific Officer. In his new role, Dr. Quirk will lead Sage’s Research and Non-Clinical Development organizations. Jim Doherty, Chief Development Officer, also a founding member of Sage, will leave the company to pursue new opportunities. Both Dr. Robichaud and Dr. Doherty were pivotal in the development of the scientific platforms that established the company’s robust brain health pipeline. Both leaders played key roles in helping move the company’s two approved compounds from early discovery through approval. Laura Gault, Chief Medical Officer, will assume Dr. Doherty’s responsibilities.