Sage Therapeutics, Inc. (NASDAQ:SAGE) has reported that their postpartum depression pill has had a breakthrough in a late-stage trial. After the announcement of the positive study results, Sage’s share value doubled adding close to $2 billion on their market capitalization.
Results of the postpartum depression bill
Un a study carried out by the company comparison of 151 women given the SAGE 217 oral medication displayed few depression symptoms compared to those given a placebo. Equally the drug did not show any significant side effects.
In a statement Jeff Jonas, the Sage CEO indicated that the results were consistent and robust which showed a significant rapid clinical improvement for symptoms of PPD depression in the sample treated with SAGE 217 compared to the placebo. They announced the progress during the annual JP Morgan Healthcare Conference.
The third phase trials could pave the way for the approval of the SAGE 217 in the treatment of postpartum depression. Similarly, the company is waiting for approval by the U.S. for its injectable drug Zulresso. However, the company has not stated how they will handle market overlaps on the two treatments.
Following the announcement that the third phase trials results for the treatment of postpartum depression by the SAGE217 had met both the primary and secondary endpoints, the share value of the company increased by almost double.
The shares increased by +$52.99 which is an increase of 55% to a high of $150.50 with their previous close being $97.51. The increase in stock value equally saw the market Capitalization of the company rise to $6.5 billion.
In the released results that caused the soaring of shares, the company indicated that a 30mg treatment dose for two weeks was able to alleviate the symptoms of depression by 17.8 points on the Hamilton rating scale compared to 13.6 points on placebo.
Of the patients treated by SAGE 217, an estimated 45% achieved a decrease in depression in the two weeks while only 23% of those under placebo treatment received remission after the two weeks.