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Sage Therapeutics reports quarterly loss, but shares rise

Thursday, February 23, 2017 9:13
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Sage Therapeutics Inc. (NASDAQ:SAGE) on Thursday reported a loss of $55.9mln in its fourth quarter, far worse than what analysts expected, but the shares advanced.

On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of $1.50.

The results underwhelmed Wall Street which had expected a loss of $1.14 per share.

For the year, the company reported that its loss widened to $159mln, or $4.75 per share.

Unfettered, Sage shares were up 4.9% at $64.94 – surpassing their levels last week after the group’s CEO made a loose comment to media about being on others’ buy lists, a remark later tempered by the investor relations office of the firm.

Read: Next time, perhaps a few Sage words?

Sage Therapeutics shares have risen 21% since the beginning of the year. The stock has climbed 87% in the last 12 months.

Story by ProactiveInvestors


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