Sage Therapeutics (SAGE) saw its loss widen to $56.78 million, or $1.52 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $30.54 million, or $0.97 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $57.48 million, compared with an operating loss of $30.71 million in the previous year period.
"We continue to make good progress in building Sage into a leading CNS company with the potential to deliver differentiated medicines for a variety of central nervous system disorders. We are focused on closing the innovation gap in areas of brain disorders where more breakthroughs for patients are needed,” said Jeff Jonas, M.D., chief executive officer of Sage. “We are now nearing completion of enrollment in our lead Phase 3 program in super-refractory status epilepticus (SRSE), and remain focused on completing Phase 3 clinical development of brexanolone in both SRSE and postpartum depression (PPD) in 2017. Further, we continue to advance our growing pipeline of novel product candidates, including our lead oral compound, SAGE-217, in four clinical programs in both mood and movement disorders."
Working capital increasesSage Therapeutics has recorded an increase in the working capital over the last year. It stood at $317.16 million as at Mar. 31, 2017, up 10.65 percent or $30.53 million from $286.64 million on Mar. 31, 2016. Current ratio was at 10.95 as on Mar. 31, 2017, down from 18.95 on Mar. 31, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
