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Sage Therapeutics Announces Strategic Reorganization to Prioritize ZURZUVAE® Commercialization and Focus its Development Portfolio
Sage Therapeutics has announced a strategic reorganization to support the launch of ZURZUVAE for postpartum depression and focus on pipeline development. The plan includes a workforce reduction of approximately 33%, affecting over 165 employees. This restructuring aims to extend the company's cash runway and position it for long-term growth.
Key changes include:
Leadership team changes with several executives departing
Chris Benecchi expanding role to Chief Operating Officer
Greg Shiferman promoted to Senior VP, General Counsel
Vanessa Procter taking on expanded responsibilities
The reorganization is expected to be completed by Q4 2024, with an anticipated non-recurring charge of $26-28 million. Sage will provide updated cash runway guidance soon.
Key changes include:
Leadership team changes with several executives departing
Chris Benecchi expanding role to Chief Operating Officer
Greg Shiferman promoted to Senior VP, General Counsel
Vanessa Procter taking on expanded responsibilities
The reorganization is expected to be completed by Q4 2024, with an anticipated non-recurring charge of $26-28 million. Sage will provide updated cash runway guidance soon.
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