Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.
On December 5, shares of Sage Therapeuticsdropped nearly 60% after the company announced that Phase 3 trial of its depression drug, SAGE-217, yielded disappointing results and failed to hit a key mark. Our firm is investigating possible legal claims against Sage Therapeutics on behalf of investors harmed by this news.
Sage Therapeutics Stock News: SAGE-217 Fails To Perform Better Than Placebo
On December 5, 2019, Sage Therapeutics announced that its depression drug, SAGE-217, failed to perform better than a placebo in its Phase 3 trial. According to the Boston Business Journal, this failure of the drug came as a surprise to investors.
The Boston Business Journal reported that the drug had shown positive results when tested against major depressive disorder in earlier studies, but the effects of the drug seemed to taper off by the two-week mark of the Phase 3 trial. According to The Motley Fool,
this is a big setback for Sage Therapeutics. SAGE-217 is an oral drug with a novel mechanism of action compared to depression drugs currently on the market. If it proved successful, it could have achieved billions of dollars in annual sales.
Given the company’s previously optimistic outlook, the nearly 60% drop on December 5th may have surprised investors. Our firm is investing Sage Therapeutics on behalf of shareholders who lost money in this drop. Contact us today to see how you may recover your losses.
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