The company has not recorded any revenues for the current as well as previous quarter.

Operating loss for the quarter was $56.38 million, compared with an operating loss of $28.61 million in the previous year period.

“Sage is continuing its vision to “rethink” the development of treatments for central nervous system disorders and, in doing so, attempting to close the innovation gap in an area of disease that represents approximately one-third of the worldwide burden of illness. We are now at a point of significant momentum following the pipeline transformation witnessed in 2016, resulting in at least eight anticipated data readouts across multiple different mood, movement and neurological disorders this year, including the results we announced earlier this month. In addition, plans are underway for our potential first commercial launch in 2018,” said Jeff Jonas, M.D., Chief Executive Officer of Sage. “We believe that a key element of our success to date has been our utilization of novel and efficient approaches to translational science facilitating the discovery and clinical development of our differentiated investigational medicines. Our new Experimental Medicine group, led by Jim Doherty, Ph.D., will further build on this expertise by establishing a translational foundation across our discovery and clinical programs that we believe will better position Sage for long-term success.”