Sage Therapeutics, Inc. (NASDAQ: SAGE) announced that partner Biogen (NASDAQ: BIIB) has terminated its rights related to the investigational neurology candidate, SAGE-324. A phase II study on SAGE-324 for treating essential tremor failed to meet the primary endpoint in July.
The termination will be effective from Feb. 17, 2025.
Following the termination of the deal by BIIB, Sage Therapeutics will obtain full ownership and rights of SAGE-324. The company plans to study SAGE-324 for other indications, if any.
Year to date, shares of Sage Therapeutics have plunged 66.9% compared with the industry's decrease of 1.9%.
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SAGE's Licensing Agreement With BIIB
In July, Sage Therapeutics and Biogen announced top-line data from the phase II KINETIC 2 study, which evaluated SAGE-324 as a potential treatment for ET. The study failed to demonstrate a statistically significant dose-response relationship on the primary endpoint in ...
