SAGE - Earnings call transcript Q3 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon. Welcome to Sage Therapeutics' Third Quarter 2024 Financial Results Conference Call. [Operator Instructions] This call is being webcast live on the Investors and Media section of Sage's website at sagerx.com. This call is a property of Sage Therapeutics and recording, reproduction or transmission of this call without the express written consent of Sage Therapeutics is strictly prohibited. Please note that this call is being recorded. I would now like to introduce Katie Plante, Manager of Investor Relations at Sage.

Katie Plante

you Conference Sage call. thank XXXX Third and Results Financial afternoon, for Therapeutics joining Quarter Good

website actual These you press and Before statements, making discussed go and based to and our are point to on begin, our may which slides the uncertainties, are risks sagerx.com, filings we to certain in I call. I in expectations we Investors Media encourage Please related beliefs. to out section our materially. would press that find forward-looking the can everyone SEC today's subject to at statements and factors and additional review release release results differ where like risk details. for of be our current the and today's will

prepared begin during by Executive overview the our Chief provide with XXXX. who progress of our will of Greene, call Officer, quarter Barry will an third remarks the We

will Zurzuvae. the Chris on provide Officer, update Business Chief Benecchi, Our an of commercialization ongoing

joined our We across then review Chief our program. Laura activity will who be development will Officer, Medical by Gault,

for Scientific Q&A We turn will joined that, the XXXX. Kimi Chief Barry. by Mike Iguchi, to quarter financial who our now the review Officer, portion our Quirk, of Chief Financial the be will results available of the will be from our questions I'll then during third Officer, call. With call over

Barry Greene

this. in health is especially has brain joining of advances important afternoon. successful work postpartum new Discovering major human in bringing a but this to of everyone, an us The Katie, in and thank market, for depression impact for example you, Thanks, medicines and formidable our potential them health. when is challenge,

launch setbacks that to of sheet health our ongoing the month early This of including support are However, and intended with earlier investment the frontier. Recent was implementing size and other We on reorganization business further focus pipeline. to the restructuring making a their brain We those strengthen drug to next stage for us business future our grateful for we and necessary. our readout devastating operations focus areas our Huntington's conditions this to require success. I'm announced right of remain a across Zurzuvae PPD, of business for priorities. women most development, pipeline this treatment impact upcoming our in including decision patients. departing our employees, will disease for difference Sage that the dedication our exploring to opportunities all balance believe

press XXXX. stop commercially release, you've decision As making to ZULRESSO we're the recent making seen XX, December after our strategic in also available

supporting paradigm. since accelerating noted, made the Zurzuvae more in PPD in PPD As this of women the see we've with progress treatment we've launch we treatment and change important

who Zurzuvae increased With treatment an PPD of can our PPD. and seeing decision to business be to supported ZULRESSO providers to we women for ZULRESSO. even demand with discontinue focus so transition the We that decrease It's well for logical prescribe and on in believe also with with Zurzuvae will healthcare resources women a by more availability help Zurzuvae. demand continue PPD, in will expected the women Zurzuvae we're

further and agility, would are community. and with U.S. runway and prioritizing We grateful PPD, studies significant the on zuranolone will believe the have We're in patients, supporting all Biogen who and efforts treatment conduct Based and our depressive supported us our on we're patient these we advocates pursue provide focus to on cash clinical investment focused our providers and to resources the advance MDD. major of we also the needed additional decisions as trials business. the PPD in not Now for Sage time new disorder a the to expect development will as be

has as a set We're continue the supported making momentum care Zurzuvae. Last we seeing therapy establish we're PPD. healthcare standard in stigmatized line by condition growth. has demonstrated with a year, that's the quarter solid of and critical future and a first with PPD, Zurzuvae a and consecutive progress to role between providers with dialogue been a third build We advancing that in women for goal helping foundation under often PPD our a as of Zurzuvae for women treated. to to care support by

among As the a should are screen, We OB/GYNs PPD have be with integrating shift maternal mental now the is treated treatment more health women in PPD. disorder. obstetric result, and care for more practice OB/GYNs this for initiating believe and diagnose to to treat patterns potential begin starting and medical who

in average, their as prescribers the Zurzuvae, progress prescribing recognizing energize we In on women continues PPD online sharing guidelines, first Zurzuvae Since increase across an ecosystem to broad screening for benefit PPD of with are innovation media written Of an on Zurzuvae, has treatment Zurzuvae prescriptions once favorable for are women publishing coverage medical they and stories, treat medications. healthcare to encouraging see payers and urgent majority number a medical going the based and treatable line as success an OB/GYN using continue PPD the those seeing and associations and treatment. We're fact, written all and our of PPD are are discuss PPD with the efforts. launch, the condition.

options commercial are in the encouraging, understand delivery diagnosed our overall rates step who QX. be is of PPD care. it specific will to the performance should ensure process women in first progress screening provide breakdown for more their with Chris While in PPD for

Zurzuvae market to that plan to recent accelerate growth PPD. believe success including investments, continue with Looking our sales ahead, we for demand will and strategic force expansion and our scale the and

Alzheimer's to of not from that of Phase dalzanemdor endpoint. for disappointed II Phase expected month, turning with We're top in this cognitive the Alzheimer's reported disease patients the the later year. with reporting associated meet in disease. impairment Huntington's study study to look We forward line data people DIMENSION II LIGHTWAVE with the did Now millions primary we the Earlier suffering this pipeline. disease

for license announced Finally, terminate program. decided in the has to Biogen that we collaboration September SAGE-XXX our agreement and

this for that anticipate ownership termination plan based will portfolio indications, any continue have a in full future prioritization. and we and investment of to be program. We With if agreement, to the on SAGE-XXX Sage SAGE-XXX broader review potential will evaluate of the pipeline any

advanced remain Our value the Chris? health commitment term growth guiding medicines to and principles. With on that, Zurzuvae. to successes our provide creation long setbacks. through turn endures of call impact, and our Chris additional brain Patient context to over ongoing commercialization I'll the

Chris Benecchi

Thanks, Barry.

quarter. in notable achieved our Zurzuvae the We have over third of launch progress

PPD. our third Sage in establish making recognized line $XX total which revenue are in of XX% $XX.X generated as strides the of over with represents of in and We XXXX, revenue. standard the million in This goal Zurzuvae therapy second women notable care Zurzuvae million for the quarter collaboration quarter. growth in a first to revenue

by compared quarter. as demand approximately prescriptions have since to shipments quarter filled in second the increased launch. an X,XXX normalized observed approximately third delivered the initial to and XX% represents with This also We Inventory PPD. growth women measured the with at levels build

reduction treatment of Additionally, with we Medicaid implemented. percentage and for have in a commercial policies as been of signal Zurzuvae goods PPD. as women saw Prescriber Zurzuvae a covering free encouraging also the growth trends

initiating expansion. Zurzuvae continue sales an strong promotionally among market that breadth done recently and to OB/GYNs a from awareness prescriptions PPD. These scale, after a being building force suggests writers psychiatrists. Prescribers further sensitive interaction with most as brand aided new are repeat and increase and with potential data we've data field to with reinforce XX% quarter-over-quarter, prescribed HCPs who trends representative. is with this sales across with our foundation our treat of a is view that a We

time script of for way, at of to access same the continue OB/GYNs time, have OB/GYNs XX% as element forefront at OB/GYNs continue our to broad treat are the This prior critical the noteworthy care, most ensure written women of majority accounting prescriptions. critical wrote we to a and PPD screen, lead first equitable to multiple to important diagnose, the Importantly, and is prescribers. with PPD. At XXXX of women efforts A a peripartum these to this July all treatment. coverage as recognize get who seeing the

we've of report need PBMs opportunity are to now favorable approach enabling value this the the growth strong articulated a PPD. Barry launched with of strategically more when of without proposition Zurzuvae all The PPD. and women Zurzuvae speaks scale start burdensome policies national and today, of of To a to treatment coverage quarter the that Zurzuvae prior PPD focused XXXX. women and with for progress our access in have end we to with lives first-line for big XX% pleased developed the treatment As Medicaid with of for made vast in PPD, with policies about the than covered, Zurzuvae X authorizations. I'm strategy success. majority in at commercial think

X in Zurzuvae PPD to plan Our growth is key around areas. accelerate centered of

in and of start in a HCP prescriber process. the peer-to-peer we continue force fulfillment experience, force efficient expanded by QX. Sage's plan and is support sales clinical PPD through including education, in the prescription QX. through to positive an expand to programs increasing as field and engagement, prioritizing expansion to plan repeat First, writing base We field brand awareness of the

more Our ask with media targeted to Zurzuvae supported appropriate treatment goal and symptoms is for leverage an their discuss to Zurzuvae the plan finally, HCP social prescribed channels, with empower process. And option. digital women and feel HCPs media, women influencers and PPD throughout PPD is their if to we to

shared pipeline PPD quarters. With in and community the system, inspired I by real of fuels the are our our in women forward efforts We healthcare change updates. to on Laura to Laura? will commitment to sharing commercialization updates it our that, support highlight I efforts turn the to which over the PPD. with look ongoing to lasting create coming

Laura Gault

good and Chris, afternoon, Thanks, everyone.

in the announced Zurzuvae in to growing community results the We potential Study we and the the was Coding there continue I'm endpoint. A statistically significant regard placebo, not from recognize to clinical the difference the to difference participants was WAIS-IV assessed making disease. the treat the placebo to Phase are a encouraged LIGHTWAVE progress to women secondary baseline that from stage for PPD. With with XX between the Unfortunately, with not as to by by in endpoints. help observed and versus day PPD. healthcare Test, dalzanemdor early we dalzanemdor October, believe is more primary also in Alzheimer's treated pipeline, momentum III even and contributing

do dalzanemdor of clinical Alzheimer's development not plan these further we pursue Given to in results, disease.

participants, the Study, investigators, to advocates, this disappointed partners, the gratitude are by important Alzheimer's care to patient from we whom of and contributed our LIGHTWAVE we community, research. broader all the all extend the While findings

DIMENSION We associated no data cognitive look from Phase there We impairment for forward people the currently are are also with disease year. work Study the ability conducting in of this Huntington's people to later with dalzanemdor and DIMENSION This that top-line II are expected treatments. themselves, Study, the cognitive with disease. affects Huntington's evaluates the to and care impairment which

one to brain GABA we our hard including work disorders. our and a the from alterations may work highlight health pipeline, is SAGE-XXX, We portfolio. With GABA I early-stage of neurodevelopmental many PAMs lines on options in see close the of on GABA the limited. today, inhibitory SAGE-XXX. understanding They treatment built to our I'll note an of PAM, where dedication role the insight This the appreciation of advancing in that front are A SAGE-XXX continue other important an health teams. on to options extra-synaptic-preferring an current brain are disorders. in that opportunity of certain the treatment disorders of want positive treat to evaluate differentiated modulator, receptor allosteric or designed be across our is pathophysiology signaling is play for

for a Now over I our will the turn of financials. review call Kimi?

Kimi Iguchi

Laura. Thanks,

for of this XXXX afternoon. Our press in the issued quarter our release financial detailed are results third

Chris in quarter. third we reported million collaboration from revenue the of As Zurzuvae $XX of the mentioned, sales

Biogen that for reported our revenues collaboration reports the quarter, is of in holidays, XX% Note fourth certain reminder, revenue influence revenue. a including Zurzuvae. the As could variables net

quarter expenses, operating in the SG&A quarter million R&D XXXX. expenses XXXX. $XX.X to million third were were of third Turning of $XX.X in expenses the

We expenses to XXXX in decrease to operating expect XXXX. relative

the securities million. Our We for was the third $XXX loss cash, marketable of cash of million. and net quarter of with quarter $XX.X XXXX approximately third equivalents, ended XXXX

and will extend we reorganization announcement As that in of future. cash anticipate runway, the implementation we runway the month, cash our guidance our plan reorganization this to update in earlier we near stated

Finally, the a the efforts, opportunity I thank colleagues alongside want the of make continued in team. you handle turn a operator. to our all you been with Katie privilege this approach work with and I'm an It's in to I as it to proud revolutionizing we area, impact a especially company to wish success. I'll over to now my tremendous depression. Katie? to Q&A for built postpartum

Katie Plante

I will one Thanks, ask limit Kimi. yourself that you to question.

the an have to question, you free If queue. additional return feel to

operator the to over Operator? it Q&A. turn to will I oversee Now

Operator

comes today question Anupam And with Instructions] [Operator first from our Rama JPMorgan.

Anupam Rama

script I know what you're what on a of wondering expansion? trends sort weeks, few sales can but been force from seeing the on you it's only color provide

Barry Greene

in as the for the put we the we so out in they're force there in highlighted fourth So, the remarks, prepared sales quarter, field.

we've Given to the or already, it's that early too territories see color that promotional with provide uptick seen we're an than and the we're to confident the other we're sensitivity effectively. they're But in guidance operating any with these. field going

Operator

from will Salveen question Richter Goldman come next Sachs. the And with

Shrunatra Mishra

for Shrunatra on is Salveen. This

shipped? also couple in optimization Just indications there's early stage on our there? year or if Could speak process any specialty the we'll the any between for side. And from you the regarding lag Zurzuvae, pharma be data to your prescriptions any and SAGE-XXX? next pipeline seeing the a And and the reduction for been there color written if

Barry Greene

over Zurzuvae, the to specialty pharma start to it me Let pipeline. Laura turn and then about I'll talk with and

as newer and the OB/GYNs. to to be in the place with just about in last talked is pharma for healthcare the provider to PPD So right OB/GYNs clear, disease quarter, progress. working we moms And is the early intercept office specialty that

educate homes. We're really not we hearing solutions, much additional shipped implement and moms' getting is as drug about better that getting So to better. process complaints and

a want stage it's process early efficient very that to talk the you improve about do continues fact, In quarter-on-quarter. Laura, pipeline? to

Laura Gault

sure. Yes,

in the other SAGE-XXX. interesting highlighted equity our an So because on compounds extra-synaptic differentiates as it portfolio, our stage is GABA call, is the pipeline of molecule. And in one preferring I that from early

the benzodiazepines development, balanced to or that it been preclinical GABA of a the molecule the during of role uncover profile I hope and this early the we to some benzodiazepines different so will translate will profile seen compounds pipeline, clinic circuitry. And And have about that approach rest to compounds. the differently our is to in how this Phase compound pharmacological we our different in currently in in we've of in than data, really look as starting we GABA and I, the has to forward into a that neurosteroids brain the prior it program. With compared clinic. In to the taken develop to regard have Phase is to that behaves information differentiate the pipeline understand impacting

could the So A the and various we are GABA X circuitry influence platform. just NMDA with how But the started with in these platform followed of brain. neurosteroids examples

to for our approach. pipeline, so in other platform stage identify neurosteroids And earlier looking we're opportunities a for

Operator

Yasmeen And with Rahimi Sandler. question Piper our next come from will

Yasmeen Rahimi

thank First be contribution. to it's and that. maybe of just working all, been great to all start Kimi, I you, to And you. with Chris, you'll goes your for And greatly missed. Sage, of you want Same

evidence year-end? my you readout of products, at the to the disease I of pipeline terms us get Huntington's guess, recently clients given setbacks question, going here excited In what can sort around into point

Barry Greene

Yes. certainly build And helping a Kimi but to look is to to her wonderful job going forward Sage. retirement, has done

we the saw. and Let data earlier I'll me talk of about Laura start, Huntington's and to then ask some

we call, of and PPD with continued off shipments think us. So, a Zurzuvae that the to start -- of And the for of the look, on really transformation and launch seeing very we're is we as very strong PPD. quarter-to-quarter you exciting growth heard

have from compounds. We the data Additionally, already those the X over were stage all and a pipeline earlier to learned got lessons the last applying along, and and all lot follow seeing commented to years science earlier the earlier on create in Laura pipeline. as stage we apply stage value on, already longer-term those compounds a we learnings we've learning that we potentially think there data short, an medium, move

the talk there. earlier you have of we see to Huntington's, and hope want some and should data upcoming the dalzanemdor, some readout? some thinking different for do about data forward Laura, You the of moving

Laura Gault

Sure.

disease may for the is impairment. the expecting of not that before So, have those our end are who the year. from dalzanemdor be study Huntington's results of in familiar, DIMENSION study cognitive And with patients we study who

for approaches. rationale this very a really that strong on relies have We scientific study X

into is learning XXS-hydroxycholesterol patients and steroid, receptor And The of that a research role in recognition first the neuroactive reduced decades later the NMDA Huntington's. second the with of in a is is memory.

Now, modulate be the this expected restoring that of the receptor expect that modulates to same and And it. the way, towards to binds neurosteroid could is normal. receptor NMDA the in function NMDA we re a the dalzanemdor system

more of population. this to study studies. interesting detect is it this population the of it's a That our One consequence, seen and than a has easier homogeneous factors a And some what is that Huntington's as in of defined that disease a signal other fewer genetically means in medical comorbidities. younger is population we've in

in anticipate studies will those the So, as results the from to forward looking that year. said, this from don't seen we results predict we DIMENSION. studies the necessarily We're we've results prior later seeing

Operator

Oppenheimer. And Olson with will come the question Jay from next

Jay Olson

Thanks collaboration for potential initiated talk telehealth? drive for has about Talkiatry in update. providing that please Could this through you the that uptake Biogen opportunity PPD and to the

Barry Greene

I'll to about it. start ask talk I'll and then Chris

to paradigm those as we're nurse birthing and at it during, drive and obviously event that we assistants then with help see the and PPD, and that in OB/GYNs is the does practitioners before, think them. So, trying pregnancy, start about directly the then shift really and moms physician's after that

So, treat. over appropriately if you screen diagnosed, and and place that's then from time quarter, OB/GYNs. And and fact, of coming diagnose saw right scripts XX% frame to the as from are, the this in

the intercepting process, great. are that's So, and early we PPD disease in

birth. symptoms and Some until go develop women frankly, months others, on multiple and don't after diagnosed get don't to screened

So, they're outside the practice OB/GYNs.

in diagnosis do the can come you other that's and care PPD have OB/GYN diagnosed. And well and really if gotten of get other psychiatrists the as that that? talk symptoms where specialties Talkiatry. Chris, primary out their want about have as disease, that treatment moms potential for and for us access it's educate important physicians those so further So, the to screening to

Chris Benecchi

Barry, navigate motherhood. mothers where she she's time challenges they are that if effectively, I they like able of do and environment much-needed hit at she's meet new you think care, the a organizations do in a And, supportive they whatever place for it. Talkiatry in. is so Telehealth needs as that resource woman what to from

we this women the and as so insight postpartum with to opportunity how engage through said, to healthcare professional a depression. is you I deeper gain manage going into really that many for believe, So, their think to expand

Barry Greene

terms I country, take, Jay, you in months It into And this Yes. of get highlighted to to a weeks certain think further the areas in of might uptake. psychiatrist.

immediate that provides help a this mom So, need access that should really just Chris highlighted.

Operator

the will question Ritu TD Cowen. come And from with Baral next

Unknown Analyst

This is Athena on for Ritu.

Another on your stage cost assets with assets also would stage unveiling is early to effective And your neuro-focused early timeline or development? pipeline, what neuropsych-focused? promising these be

Barry Greene

to ask me in to start want chime Laura as there might Mike, Let you and well. then

Laura Gault

Yes.

now a early that share the more, the across So, are of potential we our prioritization process of complete, conducting portfolio process. portfolio about will and details pipeline. right we in all evaluating are assets the When is the

Mike Quirk

And to bit said then Laura build what just earlier. a on little

of the elements understand the a Laura And there engage understanding around in of was and was our think neurocircuits and neurocircuits across think neuroactive in-house broadly really way best neurocircuits. but steroids, more how we brain endogenous they how on trying I beginning health disorders. range to usually neuropathology steroids from that's on in those the disorders. And role forward X as I understanding play one, focused health focused other that Sage, in new chemistry platform the medicines one really of were to bring brain mentioned,

as on also while ways we NMDA critical working go we opportunities, that our GABA neurocircuits. the the now within can these and with other And We've the clinical research these has receptor. emphasized understanding GABA interacting and on engage really of receptors been as information so right have those platform evaluate pathways circuits pipeline more just that continue we'll share. endogenous And to to our beyond NMDA chemistry focused,

Operator

And we'll Fadia Ami Needham. take with a question from

Ami Fadia

the us Biogen of the regards the women patients the to than an be how with step up get ending a sense and to of sort And market of to rather a you support better give just the that women of also number the how seen With a are regards psychiatrist back of dynamics from sort sort helpful. the been help able actually if or by of conjunction OB/GYN. market market? how understand in of of the OB/GYN with these would being some split by get differs sense treated Can sense PPD, that to is efforts of us a across psychiatrist? you've That severity an versus severity level of

Barry Greene

That's a one. good

just you So as know the mom, coming right we've off over disease PPD. in onset has we think place XX% for just all is been are we as prescriptions the highlighted, typically OB/GYN, can which the but the better consequences like the to from outcomes. And PPD, under-treated treat, has intercept of the disease, earlier the any mom there devastating for baby. not numbers,

we and the seeing and during screening Zurzuvae, pregnancy the after seeing seeing, So if diagnosis, the standard an we're using primary and uses often treatment ideal or baby intervention. What state the an and OB/GYN remarks, in OB/GYN office is spot they're appropriate that directly once of highlighted not is the for than PPD. more be PPD that and, Zurzuvae this to they're with if more is born then appropriate in

create. to So that's want we dynamic the

up we care develop our weeks highlighted, and the OB/GYN, picked to intervention to months that gets that's with to PPD. symptoms the And delivering want clear, as mom PPD by is the see in psychiatry for office, focus real because to be that PPD continue comes scripts from after just And not and awareness the in. But Now, to being OB/GYNs. symptoms. primary grow in flowing OB/GYN continue or are we right several a every where baby treated women primary weeks that's

so about hit that You severity, asked quickly. the let's also

levels. at and treated are mild, moderate, all we So seeing severe PPD specialty

differentiating not really it's by So specialty.

severe, only up mild be really could the fit Friday. develop show on the Monday we're of and state PPD is with really to working a medium, healthcare woman diagnosed disease on on from help severe community PPD, mild, since understand other into PPD thing buckets a The doesn't awareness that

to whether need treatment talk PPD, or has they -- need another they So Zurzuvae someone an if need it's through help. be intervention, therapy, they

Operator

Abrahams And with Capital to moving Brian RBC on Markets.

Brian Abrahams

I'm signals will enough? to be order guys or across in the on all to endpoints bar some SDMT be endpoints trends given the of looking move these And has the what forward? decision since how and across dalzanemdor decision in curious, secondary DIMENSION the you refocus restructure for and evolved Would or resources? --

Barry Greene

to ask circle start, I'll Laura color. I'll potential and additional with back

Laura Gault

Yes.

we primary multiple in test. have DIMENSION And So aware of to around the it's are Regulators endpoint recently adjusted is study, modalities it. Clinicians over for of the nearly in this reliable the XXX SDMT, time. that's measure a the test considered are been with And forms. single-digit it. a cognition familiar years

We some Huntington's and this and we'd endpoints. that dalzanemdor in meaningful in endpoint for, the endpoint. scale between function the on are the an by secondary placebo a across to see changes obviously, looking meaningful disease called clinically endpoint, And on the of supported independent which study change like is other secondary

Operator

come question next with from Tazeen the Ahmad And America. will Bank of

Tazeen Ahmad

little which On want a the adding And the design rate that the give relative that your to prescribers you're to to with not trial of patients? Is MDD? would Zurzuvae, then, started? And it go now just can to feel pursue details to us little potentially bit first about color for experience most you to on who and focus a is give of launch decision you new their of Are you coming had resources be other you more it the are or PPD? your on from MDD, around to bit difficult when color back before breadth can adding on the prescriptions us prescribing depth it use? and have of can physicians talk you scripts

Barry Greene

Yes, set Tazeen, good questions. of

Let me some Zurzuvae, with but it Chris provide to just further. and over elaborate then to MDD I'll turn start comment on

create the thought of continuing best off and clinical resource a we're to indication, generate the relative allocation. think as MDD, portfolio to our trials to required risk terms company. the risk our potential and for unlock as That's in key after to the So and we We size Zurzuvae the sheet, money, potential PPD-helping balance moms. use and other of right more blockbuster us more focused particularly spend take our more to place about

In aligns terms of and decision. with obviously, Biogen that also

Zurzuvae, In drive terms of of breadth is depth both and strategy to our prescribers.

force, you all motion, field out our our to our want non-perishable there driving color? and more Chris, to marketing, breadth provide our So direct consumer, depth. some

Chris Benecchi

Yes.

reinforce to mentioned that the seeing prescribed OB/GYNs Barry, that who OB/GYNs as we're prescribers you said, prescribers of in Zurzuvae led using what first therapy. Zurzuvae and that a many with saw PPD. across QX. of breadth being of line depth you are them XX% And treat Obviously, we So by

experience the time, over what increasing of that course, the also of the we real in reimbursement utilization our they when in as by more So course are repeat of medication. Obviously, supported this are access world ecosystem see that enables first over they that's is physicians that have, and line gain the prescribers the quarter, it we have setting, with increasing pivotal this see the prescriptions by medication enabled for medication. experience it did studies as working access and

of factors coming utilization together here across that enabling of effect, in we different is of that have group commercialization talked depth and breadth physicians about. number what a So happening we've

Operator

question our from Vikram Purohit Morgan And next with we'll Stanley. take

Morgan Gryga

Vikram. This is Morgan on for

So X. we have

First, what you rightly or the could And see there think in recent investments that sales take current think is, time is sales into how second be sized through? our force could the you you Zurzuvae XXXX? do magnitude terms pull that And do quarters it to additional period of sales sales of question then for what over any this force Zurzuvae uplift do months of -- think expansion will or force the drive? in

Barry Greene

get to actually any I'll and to provide way it was ask questions, start that there. Chris X Morgan, in comment. I'll

see said Zurzuvae many number we many So big potential back a about rates, PPD. The it Zurzuvae we the educated. of by we're suffering women healthcare and tremendous with helping those diagnosis this just seeing providers of of the the of when many, potential blockbuster We already PPD. epidemiology, use thought about frontline We've support the to treatment times. thought up, rates in launch, very

should than quarter. And force should whom newer not. we shouldn't a growth, full So field who see on, of to it ones guidance of see of half provide to then pretty the epidemiologically X of growth. Those on, the trying start we're calls see of are for X number numbers, The or increased or calling really Those of the PPD, period some of extended awareness. to immediate can't increased off women growth some change impact, are impact half called I The strong be impact. that. from called on a treated. we third some and with We're or next might forecast a less Zurzuvae, there. those suffer is with quarter-to-quarter half year all in terms been are here of targets, really or take a have of But time. and treated we diagnosed based but seeing upon less X have diagnosis those again,

this see period we So time extended for continuing quarter-on-quarter. to of grow an

including in marketing, non-personal will success. might force additional see further drive if expansion we motion continue invest success, it's sales As and DTC, to warranted we

Chris Benecchi

now. want is capitalizing we're of to We is on these which opportunity non-personal effort. responsive we've market. What is forward. go It's that is I would right we add promotionally learned promotionally quickly investing make there sure to to It's if efforts, Barry a that promotionally we're responsive in why is as certainly responsive field that, force very both what that this opportunity

the we've you forward. required we're promotional as the move the to doing doing. responsiveness hit right, through now again, We'll investments be But right continue market learned that we it. think what grow to I is to the time and things assess

Operator

And with Mizuho. Uy the comes from next question Ear

Uy Ear

bit maybe could on that saying I states first quarter, I a you Medicaid the several reviews. guess, think so in elaborate last question reviews? conducting coverage, you were were particularly Yes, large is, with,

wondering in were see more Just have from the coverage didn't how give much versus the I gotten missed, have lives? second XQs? prescriptions you of question, number release. commercial written would Medicaid I might in And you that press

Barry Greene

Chris I'll comment. then and start I'll Yes. to ask

going So and revenues drop we going to shipments forward last were that and quarter prescriptions. we highlighted provide

So we've done that.

launched are of of coverage, of want and of as terms in more Chris, characterize schedule coverage to commercial both you terms in provide color? ahead PBM terms In we Medicaid. I But where way

Chris Benecchi

historically XX% burdensome seen set the launch policies are our is with really to access was a of Medicaid is Again, successful we've lives what Zurzuvae we why launch, area, of part plans that well medication. goal that is What to a without access first Medicaid. we've that approximately which said us as it to covered a in worked ensuring prior strategy, enabling authorizations. to for vast hard as reimbursement as with respect as this line and commercial this Barry, so is mean, I all of a we've both commercial on majority out now paramount

plans step at think again I majority what the given Medicaid of the specificity haven't and of sense worked, Zurzuvae percentages prior with Medicaid, the is to exact out can't authorizations of we to was the of for and pathway we've it. of regard while which in Medicaid, no a Medicaid we no the say there owner's utilization

you're high in or line you're it patient first likelihood affordably. insured medication, the get and not able to commercially rather you a you you're but get to that only whether someone of a Medicaid, regardless able do there's this with so are So

as have think national by encouraged done. be what to is so very PBMs. of clearly work far, earlier I more that we thing said that today we So the X And other we've seen X now

a our access perspective. in sales from wins the market So

Operator

Danielle on to Raymond moving James. with And Brill

Alex Nackenoff

Alex on Danielle. is This Question on Zurzuvae. for

demographics. you Just wondering insight how into much the have patient Zurzuvae

with history those versus prior prescribed or second see of child mothers of to curious MDD whether third additionally example? having PPD for Just a their prescribed patients first are who or Zurzuvae able have you're any for curious is a breakdown if matter. you Zurzuvae mothers percent of time that And being visibility to whether

Barry Greene

thanks want Alex, the question. for you Chris, start? do to Yes,

Chris Benecchi

also also So across group say to what of of has patients about disorder that I do would Zurzuvae from severity types about it know major a and a have based actually without the mild, a of of or say depression. in that front prior They're with significant know about severity see, what we making we that we severe, of patient them think areas. And really upon says prior into determination the utilization really presents mother PPD, scale. while prior particular some clinicians The consideration experience a mix and those of on that what's depressive signs history. important of needs she taking seeing aren't focus a population But no when bit. assessing history one the we're of the They're the any quite history. new patients, of postpartum symptoms moderate is I

medication. is mothers with here access to this So what PPD have we happening have that effectively

access treated. cases, in it's as to line first not many because means said, that but I is Zurzuvae there's the is ultimately -- and to PPD fundamentally what screening the therapy they As have a of ability really way exciting it thought diagnosis, terms way which about only change the with is

Barry Greene

used to history And limited seeing being of Yes. severity. round out, or guess I Alex, take their not third It's see. that, PPD, to or dynamic the Zurzuvae we mothers across to to great. we're to That's prior or opposite or just said, want side mothers new second as not that including or all limited of kinds which with, is I children, more the

Operator

question next Beatty from the with Baird. And Joel comes

Joel Beatty

for a depression? is a already or treatment growth that last is Is the are a patients Maybe Zurzuvae there setting of setting prescribing the OB/GYN follow-up is who for question in has more feel that depression? managing ever and a to the who how do comfortable on use been

Barry Greene

Yes, Joel.

do, XX% that diagnose screen the of are them So to as which guides OB/GYNs, they're PPD. what they ACOG majority suggested from again, seeing and screening coming do need over to we're OB/GYNs and for scripts

of prescribed immediate, prior we're shouldn't ranges and So we're previous number had without Zurzuvae seeing the history, seeing or irrespective being moms that. highlighted across as And of be mild, child we which the severity, using severe, all they anyway. with with question, we

on are and reinitiated seeing use. top been concomitant used of Zurzuvae as monotherapy or that may have We mom also an antidepressant on a

segments. Again, segments. good we're exactly at growth. that's what seeing these for point So across There's all across is for growth see one opportunity prime in really here launch. what's the It's not that, segment that's this all really to we want

Operator

Marc will go we Leerink. to Goodman And with

Marc Goodman

question the should on reported? what business the is, past of how can One, pipeline? the the end internally and are in and questions. talk quarter? into did you that Where at X change about last eat that Or much just are about And are your new development, the products? And quarter. and you we thinking Yes, looking at we then talked you weeks about inventory think moving developed in forward that actually preclinical other revenue you all those products QX? be You were for should outside X.X we've that's Barry, the how

Barry Greene

Yes, Mark. Thanks BD inventory. for and the to the Chris questions. ask about I'll one take talk

really in, to And be highlighted, curious. continue frank, that bring to intellectually So might anything or we we have too significant equity for want pretty gone cash. it's and we've liked very as be others we to pieces liked of

to continue patients, believe our therapeutic in evaluate potential including development we'll opportunities options for bringing So forward. we support new business any priorities and our business advance bringing that and pipeline

we So the take there. you to want opportunities for Chris, are open inventory piece?

Chris Benecchi

of increased QX say quarter in patients hand initial demand that, hand inventory. the of days were they by we're increase PPD from haven't the be exactly units stand full and we on levels But from where largely in driven of on or by inventory with shipped XX% to third was commented today third launch. for that revenue we we on growth impact So build right is our have revenue as that largely an and belief revenue the is approximately where can strong of in now weeks inventory, respect we what to should And quarter. where the normalized off the

Barry Greene

on as Marc? we highlight go Yes. What -- inventory side, I'll continued ahead, the

Marc Goodman

think to No, or X say X I that going quarter to correct? I was heard maybe is was your say, that you target didn't last I that weeks or

Barry Greene

Yes.

say So is number growth to weeks a was to units double what X we continue grow hand, number. the cover inventory in of of bigger because see the need obviously as to will digit going or I quarter-to-quarter, X you

to X farmers highlighted is to X decision because will that to continue grow and target the week see you a something be continues we'll in we've wholesalers highlighted making. that's demand past. So inventory Again, specialty That grow.

Operator

will I With to of And back for call. portion today's that the that, it will remarks. conclude turn closing Q&A Barry

Barry Greene

Kimi the Hey, term culture, want to balancing medium part everyone that's to think helping results afternoon to thank I I thanks the joining I line call, instrumental a bottom questions to long fortitude know XXXX. her Kimi short, for service and do grittiness remarkable us and really third company. said our again Justin for really but to value. driving the top the take quarter has our a in and and of for been exceptional in this for thanks about now, company all the us review originating and a moment of

the momentum travels dalzanemdor the the and and creation. before anticipated through of we're strategic top data adventures to for great making commercialization we all our So of a to Kimi and finally, the We're look day. with DIMENSION as wish a sharing with strength our end from everyone in launch with decisions the forward Thanks closing, about sustain plan And build of have Polly. In women again also medium associated to best growth in to her Zurzuvae's Study deliberate forward hearing looking line efforts. PPD for and we're by and disease encouraged people Huntington's value cognitive short, year. with impairment intended long-term treatment

Operator

today's do conclude Have for an does thank your you That day. conference. participation. you. We Thank excellent

Sage Therapeutics (SAGE) 29 Oct 242024 Q3 Earnings call transcript