Sage Therapeutics Reports Net Loss of $160.3 Million in Q2 2023
Revenue Reaches $2.5 Million in the Second Quarter of 2023
Sage Therapeutics, Inc.(SAGE) and Subsidiaries, a biopharm aceutical company focused on developing therapies for central nervous system disorders, has released its financial results for the second quarter of 2023. The company reported a net loss of $160.3 million for the quarter, along with revenue totaling $2.5 million. The financial data, outlined in the company's condensed consolidated balance sheets, statements of operations and comprehensive loss, and statements of cash flows, provide insights into Sage's performance in the first half of the year.
Net Loss in Q2 2023: A Closer Look at Financial Performance
Sage Therapeutics faced a net loss of $160.3 million in the second quarter of 2023. This loss comes as a result of various operating costs and expenses incurred during the period. The company's net loss per share stood at $2.68 for both basic and diluted shares, based on a weighted average number of approximately 59.8 million outstanding shares. Despite the challenging financial outcome, Sage remains committed to its mission of developing innovative therapies to address critical central nervous system disorders.
