Sage Therapeutics Implements Workforce Reduction Following Depression Drug Setback
Sage Therapeutics is laying off 40% of its workforce following the FDA's rejection of its major depressive disorder (MDD) drug. The company's pill was approved for postpartum depression but the rejection forced a reevaluation of their plans. Two key employees, including the chief scientific officer, are departing, and the company employed 689 people as of February 8th.