On August 28, 2023, Sage Therapeutics, Inc. (the ?Company?) committed to a plan to reorganize the Company?s business operations and pipeline priorities in order to support goals for long-term business growth, including the planned commercial launch of ZURZUVAE (zuranolone) for the treatment of adults with postpartum depression (?PPD?) in late 2023. As part of the reorganization, the Company plans to focus its development efforts on its product candidates SAGE-718 and SAGE-324, pause certain earlier-stage programs, implement a reduction of the Company?s workforce by approximately 40%, and align its leadership team structure to scale with its pipeline and commercial priorities. The Company expects a non-recurring charge for severance and related employee costs associated with the workforce reduction of approximately $36 million to $38 million, primarily incurred in the third quarter of 2023.

The Company expects that the workforce reduction will be substantially completed by the end of the third quarter of 2023.