By Kuldip K. Ambastha and Anil K. Ambastha
On Thursday, December 5, 2019, there was “a tale of two cities,” to quote Charles Dickens. In the biotech arena, SAGE (Sage Therapeutics, Inc.) and AUPH (Aurinia Pharmaceuticals Inc.) were big movers. Sage Therapeutics delivered -59.7% for the day, while Aurinia Pharmaceuticals returned 78.8%. SAGE-217 is a depression treatment which failed to meet a critical goal in its late-stage study on treating major depressive disorder in patients, and thus Sage Therapeutics stock dropped significantly. In contrast, voclosporin (in combination with other items) is being tested by Aurinia Pharmaceuticals to treat lupus nephritis, and positive safety and efficacy data was seen in the Phase 3 study. Because of this positive news, the Aurinia Pharmaceuticals stock showed a strong gain. Again, there was “a tale of two cities” here for the day.
Keywords – Sage Therapeutics, Inc., Sage Therapeutics, SAGE, Aurinia Pharmaceuticals Inc., Aurinia Pharmaceuticals, AUPH, biotech, SAGE-217, late-stage study, depression, major depressive disorder, voclosporin, lupus nephritis, Phase 3.
Disclosure – The principals and clients of Ambastha Financial LLC do not have any positions in SAGE or AUPH.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2019 – Ambastha Financial LLC.