H.C. Wainwright analyst Douglas Tsao reiterates a Neutral rating on Sage Therapeutics after the company discontinued SAGE-718 in Parkinson’s after the PRECEDENT study showed no benefit. The results are disappointing and, more importantly, raise concern about the upcoming top-line data readouts for SAGE-718 in Alzheimer’s disease and Huntington’s disease, the analyst tells investors in a research note. The firm recognizes the differences between the indications, but it also sees similarities. As such, SAGE-718’s lack of treatment effect in Parkinson’s patients “gives us additional pause heading into the next set of readouts,” contends H.C. Wainwright.
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