Bengaluru — Drug developer Sage Therapeutics’ shares soared as much as 85% to a record high on Thursday after its experimental drug to reduce the symptoms of depression succeeded in a mid-stage trial. Sage’s shares were up 73% at $159, on track to add about $2.75bn to the company’s market capitalisation. This is Sage’s second success in as many months. The company’s postpartum depression drug aced two key studies in November, paving the way for it to bring to market the first FDA-approved treatment for the disorder. Data reported on Thursday showed that the drug, SAGE-217, was statistically significant in reducing symptoms of depression, compared to a placebo. "If we can substantiate these findings in phase 3, this could be an important first-line therapeutic option for everybody with depression," CEO Jeff Jonas said. Pfizer’s Pristiq, and Takeda Pharmaceutical and Lundbeck’s Brintellix have been approved in the US for the treatment of adults with major depression. Alkermes, Eli Lil...

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