Here's Why Sage Therapeutics Stock Is Sliding Today

Shares of Sage Therapeutics (NASDAQ: SAGE) are being beaten down today in response to an important clinical trial readout for a potential new depression drug, zuranolone. Investors unhappy with lackluster results for the drug pushed the biotech stock 17% lower as of 12:38 p.m. EDT on Tuesday. Today, Sage Therapeutics announced top-line results from the Waterfall study with zuranolone, a potential new drug for major depressive disorder that the company is developing in partnership with Biogen (NASDAQ: BIIB).