Sage Therapeutics (SAGE) CEO Jonas Tells CNBC He's 'Very Excited' By Positive Drug Results

Sage Therapeutics (SAGE) CEO Jeff Jonas told CNBC that the positive study results of the company's drug to treat postpartum depression are 'remarkable.'
By Lindsay Rittenhouse ,

NEW YORK (TheStreet) -- Sage Therapeutics (SAGE) - Get Report CEO Jeff Jonas discussed the biopharmaceutical company's new drug to treat postpartum depression, after initial study results returned positive, on CNBC's "Power Lunch" Tuesday.

In its phase II study, SAGE-547 eliminated severe postpartum depression in 70% of the 21 women tested, who received an intravenous injection of the drug over a 60-hour time period. This is the first drug created to specifically treat postpartum depression.

Jonas is "very excited" by the results which he called "remarkable."

"So what we saw in these patients, in these women, was a decline in their rating scale for depression. It went down almost to normal within 24 hours and their depression basically went away," Jonas said.

Nearing the time of birth, a specific hormone in a woman's brain is lowered. Sage researchers found that women who suffer from postpartum become vulnerable when this imbalance occurs, so SAGE-547 targets that imbalance, Jonas explained.

"The other thing we've done is look at postpartum depression as a homogeneous population. We believe this is separate from other forms of depression," he noted.

Sage researchers will now move to working on an oral form of the drug so women will not have to endure 60 hours of IV treatment.

Although not confirmed, SAGE-547 could possibly be used to help people suffering from Bipolar and panic disorders, Jonas commented.

Shares of Sage closed higher on heavy trading volume by 36.98% to $46.10 today.

About 11.66 million of the company's shares were traded today versus its average 30-day volume of 611,208 shares.

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