Sage's star ex­per­i­men­tal de­pres­sion drug fails the cru­cial MOUN­TAIN study — shares crash

Sage Ther­a­peu­tics’ cru­cial MOUN­TAIN study for Sage-217 has failed, set­ting the stage for a quick and ug­ly in­vestor back­lash.

Wide­ly viewed by an­a­lysts as the crit­i­cal clin­i­cal study $SAGE need­ed to win on ma­jor de­pres­sion, re­searchers say the drug failed to beat out a place­bo at day 15, falling well short of the mark for sta­tis­ti­cal sig­nif­i­cance on the pri­ma­ry end­point. And in­vestors re­act­ed with alacrity, flee­ing the stock and gut­ting the price with a 60% in­stan­ta­neous drop — eras­ing about $4.6 bil­lion in mar­ket cap in an in­stant.

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