Sage Therapeutics' CFO to leave, drugmaker to lay off over 165 employees
Sage Therapeutics said on Thursday its finance chief will leave the company and the drugmaker plans to lay off more than 165 employees as part of a reorganization plan that aims to focus on the launch of its postpartum depression pill.
Sage Therapeutics to lay off one-third of workforce
After a year of disappointing drug trial results, Sage Therapeutics Inc. is slashing its headcount and shaking up its leadership team.
Sage Cuts One-Third of Workforce After Clinical Trial Setbacks
Sage Therapeutics Inc. is laying off more than 165 employees as the biotech company tries to conserve cash after multiple setbacks to its pipeline.
After Series Of Trial Setbacks, Sage Therapeutics To Lay Off One-Third Workforce
On Thursday, Sage Therapeutics, Inc. (NASDAQ:SAGE) announced a strategic reorganization of its business operations to support the ongoing launch of Zurzuvae (zuranolone) in postpartum depression. The reorganization is intended to enable Sage to strengthen its balance sheet,
Sage to cut one-third of workforce, streamline drug pipeline
The restructuring, which follows clinical setbacks in Alzheimer’s, Parkinson’s and tremor, will also involve the departure of five senior executives.
Sage Therapeutics to lay off more than 165 employees
Sage Therapeutics said on Thursday it will lay off more than 165 employees or about 33% of the company's total workforce.
Sage Therapeutics Cuts Workforce by 33% in Reorganization, Focuses on ZURZUVAE Launch and Pipeline
Several executives will depart as part of the changes, including Anne Marie Cook, Kimi Iguchi, Matt Lasmanis, Heinrich Schlieker, and Amy Schacterle. Chris Benecchi will be looking to take up the reins as Chief Operating Officer, overseeing several departments, while Greg Shiferman and Vanessa Procter will assume expanded leadership roles.
Sage Therapeutics Cutting Workforce by 33%
Sage on Thursday said the moves will affect more than 165 employees, representing about 33% of the Cambridge, Mass., company's total workforce and roughly 55% of its research-and-development staff.
Sage Therapeutics to lay off one-third staff under reorganization
Sage Therapeutics (NASDAQ:SAGE) announced a reorganization, including a workforce reduction of about 33%, to support the ongoing launch of ZURZUVAE for postpartum depression and to focus on pipeline development ahead of a clinical readout for dalzanemdor in Huntington’s Disease expected later this year.
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The biotech will also be reducing its total workforce by approximately 33% and tapped its COO to take on responsibilities for finance as part of the restructuring.
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Sage Therapeutics (NASDAQ:SAGE) Rating Reiterated by Raymond James
Sage Therapeutics (NASDAQ:SAGE – Get Free Report)‘s stock had its “market perform” rating restated by analysts at Raymond James in a note issued to investors on Thursday, MarketBeat.com reports.