Sage Therapeutics’ stock falls 4.7% as biotech unveils plan to cut 33% of workforce
Sage Therapeutics Inc.’s stock slid 4.7% Thursday, after the biotech said it’s cutting about 33% of its workforce as part of an overhaul of its business and pipeline that’s expected to extend its cash runway.
Sage Cuts One-Third of Workforce After Clinical Trial Setbacks
Sage Therapeutics Inc. is laying off more than 165 employees as the biotech company tries to conserve cash after multiple setbacks to its pipeline.
Sage lays off 55% of R&D workforce and refocuses pipeline
After a series of mid-stage clinical trial failures, Sage Therapeutics has announced that it will jettison 165 employees, which totals 55% of its R&D team and 33% of its entire workforce. As per the 17 October press release,
Sage Therapeutics Cutting Workforce by 33% -- Update
Sage on Thursday said the reorganization will affect more than 165 employees, representing about 33% of the Cambridge, Mass., company's total workforce and more than half of its research-and-development staff.
Sage Therapeutics to lay off more than 165 employees
Sage Therapeutics said on Thursday it will lay off more than 165 employees, or about 33% of the company's total workforce, as part of a reorganization plan. The drugmaker plans to prioritize the launch of postpartum depression treatment Zurzuvae,
Sage Therapeutics Stock Is Dropping. A Workforce Reduction Is Hitting R&D Hard.
The biopharmaceutical company says the reorganization is meant to strengthen its balance sheet and position it for long-term growth.
Sage Therapeutics to lay off one-third staff under reorganization
Sage Therapeutics (NASDAQ:SAGE) announced a reorganization, including a workforce reduction of about 33%, to support the ongoing launch of ZURZUVAE for postpartum depression and to focus on pipeline development ahead of a clinical readout for dalzanemdor in Huntington’s Disease expected later this year.
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