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Sage terminates a drug development, plunges in premarket
On July 24th, Jinshi Data, Sage Therapeutics and Biogen announced the termination of the development of a proposed drug for the treatment of essential tremor of the nervous system, as the drug failed in a mid-term study. Sage and Biogen stated on Wednesday that a Phase II dose-ranging study showed no statistically significant differences in the change from baseline to day 91 in any dose of the investigational drug SAGE-324 compared to placebo. Sage Therapeutics' stock fell 28% pre-market.