Shares of Sage Therapeutics (SAGE) rose 4% in after-hours trading Tuesday after the FDA approved its drug treatment for postpartum depression, a common complication of childbirth.
shares rose 5% to $164.25 in after-hours action.
The drug, Brexanalone, is the first from the biotech company to win approval from the FDA.
It's also the first treatment for the condition to win approval.
Pospartum depression is a major depressive episode that occurs following childbirth, the agency said in a press release. In severe cases, patients can contemplate suicide or harming their infants.
The new drug will be administered as an IV infusion over two days, according to the statement.
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