Therapeutics

Sage Restructuring Halves Staff, Turns Focus to Failed Depression Drug

1 month ago   |   By Xconomy

Sage Therapeutics is cutting workers who sell its only commercialized drug in a corporate reorganization that it says allows it to focus on clinical-stage compounds, including a depression treatment that failed a pivotal test late last year. The corporate shakeup will eliminate the jobs of 340 employees, or about 53 percent of its staff, Sage announced after the market close Tuesday. The Cambridge, MA-based company estimates that reducing its headcount and cutting expenses will save $170 million annually. Sage finished 2019 with $1 billion, according to its annual report. After the...
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