Sage Therapeutics' Drug Gets "breakthrough Therapy" Designation, Shares Jump 12%

(RTTNews) - Sage Therapeutics (SAGE), Tuesday said the U.S. Food and Drug Administration granted "Breakthrough Therapy Designation" to SAGE-547 for the treatment of postpartum depression.

Shares of the biopharmaceutical company that is developing medicines to treat life-altering central nervous system disorders jumped 12 percent.

The "Breakthrough Therapy" designation will help Sage to develop the drug and get it approved faster.

Currently there are no approved therapies for postpartum depression, Sage Therapeutics said.

CEO Jeff Jonas said, "Sage recently reported encouraging top-line results from our placebo-controlled Phase 2 trial in women with severe PPD in which SAGE-547 achieved a significant, rapid and durable reduction in depression scores compared with placebo. We look forward to working with the FDA to expedite the development of SAGE-547 in this indication."

Postpartum depression is a disorder that affects women after childbirth. This depression leads to depressed mood and/or loss of interest in her newborn, and associated symptoms of depression such as loss of appetite, difficulty sleeping, motor challenges, lack of concentration, loss of energy and poor self-esteem.

SAGE is currently trading at $40.69, up $4.22 or 11.57%, on the Nasdaq.