Shares of Sage Therapeutics (SAGE) were up 8.6% ahead of the opening bell on Monday, trading at $51.50. The Cambridge, Mass. company unveiled encouraging top-line results from part A of its phase 2 study of SAGE-217 for the treatment of major depressive disorder. "Understanding the caveats associated with open-label data, we are highly encouraged by the strong signal we achieved in this study, which met our internal criteria for achieving a positive signal and thus supported our plan to proceed to the double-blind, placebo-controlled part of the Phase 2 trial," said Sage CEO Jeff Jonas in a statement.
Meanwhile, Immunomedics (IMMU) shares rose 8% to $5.65 after finishing Friday's trading session at $5.23, up 21.6%. The Morris Plains, N.J. company on Friday announced a global licensing agreement with Seattle Genetics (SGEN) for sacituzumab govitecan, Immunomedics' solid tumor therapy candidate.
Other biotech stock movers on Monday morning include molecular diagnostic company Myriad Genetics (MYGN) , whose shares were up 6.2%, to $16.98.