Sage Therapeutics announced a strategic reorganization to prioritize the commercialization of zurzuvae, its treatment for postpartum depression, and to streamline its development portfolio ahead of upcoming clinical data on dalzanemdor for Huntington’s Disease.
The company plans to cut 33% of its workforce, impacting over 165 employees, to extend its cash runway and position itself for future growth.
The restructuring, expected to be completed by the end of 2024, also includes significant leadership changes. Chief Financial Officer Kimi Iguchi and four other senior leaders will depart, while Chris Benecchi will expand his role as Chief Operating Officer. Sage will incur an estimated charge of $26-$28 million related to the reorganization.