RTTNews | Jun 15, 2021 10:22AM EDT

10:21 Tuesday, June 15, 2021 (RTTNews.com) - Shares of biopharmaceutical company Sage Therapeutics, Inc. (SAGE) are down 15 percent on Tuesday's trading. The company, however, cited positive results related to its experimental Phase 3 depression drug Zuranolone.

The company, in association with Biogen Inc. (BIIB) had conducted the WATERFALL study on patients with Major Depression Disorder or MDD. Around 543 participants were given the once-daily oral drug Zuranolone over a period of two weeks as part of the study. Sage said that the drug has met its primary endpoint, as it showed "statistically significant improvement" in symptoms compared with placebo.

The stock is now trading at $61.87, down $10.99 or 15% on the NASDAQ.

SAGE has traded between $37.22 and $98.39 during the past 52 weeks.

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