(Reuters) -Sage Therapeutics said on Thursday it will lay off more than 165 employees, or about 33% of the company’s total workforce, as part of a reorganization plan.
The drugmaker plans to prioritize the launch of postpartum depression treatment Zurzuvae, that has been jointly developed with Biogen.
Sage will also focus on developing its experimental drug dalzanemdor for Huntington’s disease, which causes nerve cells in the brain to decay over time.
The company said it expects a non-recurring charge of about $26 million to $28 million associated with the reorganization, that will primarily be incurred in the fourth quarter of 2024.
(Reporting by Sriparna Roy in Bengaluru; Editing by Shounak Dasgupta)
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