SAGE Therapeutics

What SAGE Therapeutics does

SAGE Therapeutics, Inc. was a clinical-stage biopharmaceutical company founded in 2010 and headquartered in Cambridge, Massachusetts, specializing in central nervous system (CNS) therapeutics built on a proprietary neurosteroid platform targeting GABA-A receptors. The company's commercial portfolio centered on postpartum depression (PPD), with ZURZUVAE (zuranolone) — the first FDA-approved oral treatment for PPD, launched in 2023 — and ZULRESSO (brexanolone), an FDA-approved IV infusion for PPD. SAGE's pipeline included SAGE-547 for refractory status epilepticus and exploratory programs in treatment-resistant depression and Tourette syndrome. The business model was a specialty pharmaceutical distribution model: ZURZUVAE was sold through retail and specialty pharmacies via physician prescriptions targeting obstetricians, psychiatrists, and mental health providers, while ZULRESSO was administered in hospital and healthcare facility settings. US commercialization of ZURZUVAE was executed through a partnership with Biogen, which leveraged Biogen's enterprise sales infrastructure to drive over 50,000 prescriptions within 8 months of launch. ZURZUVAE achieved Health Canada authorization in December 2025.

SAGE's revenue mechanics depended on prescription volume, insurance/PBM coverage decisions, and successful physician adoption rather than concentrated anchor contracts, distributing risk across the PPD patient population. The company maintained negative gross profit and EBITDA across disclosed years, reflecting heavy investment in commercial scale-up of ZURZUVAE post-launch and continued R&D spend on the neurosteroid platform. On June 16, 2025, Supernus Pharmaceuticals announced a definitive agreement to acquire SAGE for $561-795 million including upfront cash and contingent value rights tied to ZURZUVAE sales milestones; the transaction closed on July 31, 2025, with Supernus citing approximately $200 million in expected annual cost synergies and diversification into psychiatry as strategic rationale. Following the acquisition, SAGE ceased to operate as an independent public company and now functions as a wholly-owned subsidiary of Supernus, with its neurosteroid platform and PPD franchise integrated into Supernus's broader CNS commercial portfolio.

Name

SAGE Therapeutics

Legal name

Sage Therapeutics, Inc.

Website

https://sagerx.com

Company type

Public

Founded year

2010

Operating status

Acquired

Headcount range

251–500 employees

Short description

SAGE Therapeutics was a clinical-stage biopharmaceutical company developing neurosteroid-based CNS therapeutics, most notably ZURZUVAE (zuranolone), the first FDA-approved oral treatment for postpartum depression. The company was acquired by Supernus Pharmaceuticals in July 2025 for $561-795 million.

Ownership category

akta.pro rank

Product category

CNS Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF)

akta.pro secondary industries

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC), Rare Neurology & Neurodegenerative Disorder Therapies (HLAIAIAD)

Keywords

• Central nervous system therapeutics
• Postpartum depression treatment
• Neurosteroid drug development
• Biopharmaceutical medicines
• CNS disorder therapies

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Supply Chain

Revenue model

1. ZURZUVAE (zuranolone) sales: FDA-approved oral treatment for postpartum depression generating prescription-based revenue through healthcare providers and pharmacies. Achieved over 50,000 prescriptions within 8 months of launch.
2. ZULRESSO (brexanolone) IV infusion: FDA-approved IV treatment for postpartum depression offered as in-office or hospital administration

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

SAGE Therapeutics developed and commercialized novel neurosteroid-based medicines for central nervous system (CNS) disorders. Its commercial portfolio included ZURZUVAE (zuranolone), the first and only FDA-approved oral treatment for postpartum depression, and ZULRESSO (brexanolone), an IV infusion approved for postpartum depression. The company also advanced pipeline therapies targeting refractory status epilepticus, treatment-resistant depression, and Tourette syndrome.

Product overview

SAGE Therapeutics was a biopharmaceutical company focused on central nervous system (CNS) disorders, particularly psychiatric and neurological conditions. Following its acquisition by Supernus Pharmaceuticals in July 2025, its key product ZURZUVAE (zuranolone) became part of Supernus's neuropsychiatry portfolio. ZURZUVAE is the first and only FDA-approved oral treatment for postpartum depression, offering a 14-day treatment regimen with rapid-acting symptom relief.

Differentiator

Problem solved

Functional benefit

Brands

• ZURZUVAE: FDA-approved oral treatment for postpartum depression, the first and only of its kind approved in the United States.

Products and services

• ZURZUVAE (zuranolone) The first FDA-approved oral 14-day treatment for postpartum depression, offering rapid symptom relief starting as early as Day 3 with sustained effects through Day 45. It targets hormonal fluctuations associated with postpartum depression through a neurosteroid mechanism targeting GABA-A receptors.
• ZULRESSO (brexanolone) An FDA-approved IV infusion formulation for the treatment of postpartum depression, administered in hospitals and healthcare facilities as a complementary in-office or hospital administration option.

Quantifiable outcome

• Over 50,000 prescriptions within 8 months of ZURZUVAE launch
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Supernus PharmaceuticalscoreStrategic or Co-development Partner · 31 July 2025Supernus Pharmaceuticals acquired SAGE Therapeutics for approximately $561-795 million in July 2025. The acquisition included ZURZUVAE and other CNS assets. Supernus diversified its revenue sources and enhanced its psychiatry portfolio with the acquisition, expecting cost synergies of $200 million annually.
• Relmada TherapeuticsminorOthers · 1 February 2025Michael Quirk, former Chief Scientific Officer and interim Head of R&D at SAGE Therapeutics, was appointed Senior Advisor at Relmada Therapeutics for its sepranolone program, bringing over 20 years of neuroscience drug discovery experience.
• BiogencoreStrategic or Co-development Partner · 1 July 2023Biogen partnered with SAGE Therapeutics for commercialization of ZURZUVAE (zuranolone) for postpartum depression. Biogen handled commercialization in the US market following FDA approval, with SAGE maintaining certain rights. Biogen also received Health Canada authorization for ZURZUVAE in December 2025.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Acadia Pharmaceuticals: Acadia is a CNS-focused specialty pharmaceutical company (Nuplazid for Parkinson's disease psychosis, Daybue for Rett syndrome). Comparable in targeting niche CNS indications with novel mechanisms and specialty distribution.
• Jazz Pharmaceuticals: Jazz operates a broad CNS/specialty pharma portfolio including psychiatry and neurology assets. Comparable as an established specialty CNS commercializer with overlapping physician call points and payer relationships.
• Intra-Cellular Therapies: Developer of Caplyta (lumateperone) for schizophrenia and bipolar depression. Comparable CNS specialty pharma with psychiatrist-focused commercial model and novel-mechanism psychiatry assets.

Direct peers

• Axsome Therapeutics: Axsome developed Auvelity, an oral rapid-acting antidepressant for major depressive disorder. Directly comparable to Sage in pursuing novel, fast-onset oral CNS therapeutics targeting depression patient populations.
• Marinus Pharmaceuticals: Marinus developed ganaxolone (ZTALMY), a neurosteroid acting on GABA-A receptors — the same mechanistic class as ZURZUVAE/ZULRESSO — for seizure disorders. Most directly comparable peer given the overlapping neurosteroid platform and CNS focus.

Emerging players

• Relmada Therapeutics: Clinical-stage CNS company developing novel depression therapies (including sepranolone, a neurosteroid). Comparable as a smaller CNS developer with overlapping depression pipeline and shared talent with Sage.
• BioXcel Therapeutics: Commercial-stage CNS/biotech company with IGALMI for agitation in schizophrenia/bipolar. Comparable in targeting underserved CNS indications with a small specialty commercial footprint.
• Neumora Therapeutics: Clinical-stage neuroscience company developing precision medicines for brain diseases including depression. Comparable as a well-funded emerging CNS player pursuing novel mechanisms in psychiatry.
• Minerva Neurosciences: Clinical-stage CNS company developing roluperidone for schizophrenia. Comparable as a smaller emerging player with CNS clinical-stage assets targeting psychiatric indications.
• Karuna Therapeutics: Developed Cobenfy (xanomeline-trospium), a novel muscarinic agonist for schizophrenia, acquired by Bristol Myers Squibb. Comparable as an emerging CNS player advancing differentiated mechanisms into psychiatry indications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sage-therapeutics
• Xx.com/sagebiotech
• Facebookfacebook.com/ThisIsSage

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds10 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SAGE Therapeutics