v3.25.1
Collaboration Agreements (Tables)
3 Months Ended
Mar. 31, 2025
Collaboration Agreement [Abstract]  
Summary of Activity and Reimbursement Amounts Related to Collaboration Agreement

The following table summarizes the Company’s proportionate share of the activity under the Biogen Collaboration Agreement accounted for under Topic 808, including activities associated with the sale of ZURZUVAE in the U.S., as well as costs during the periods related to the development of SAGE-217 products and SAGE-324 products, through February 17, 2025, the SAGE-324 Termination effective date, as reflected in our condensed consolidated statement of operations and comprehensive loss:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Collaboration revenue - related party

 

$

13,827

 

 

$

6,212

 

Cost of revenues

 

 

725

 

 

 

1,201

 

Research and development expenses

 

 

1,296

 

 

 

7,031

 

Selling, general and administrative expenses

 

 

20,594

 

 

 

12,983

 

The revenue, cost of revenues, and expense categories in the table below reflect the following reimbursement amounts to (from) Biogen to account for the sharing of economics under the Biogen Collaboration Agreement:

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Collaboration revenue - related party

 

$

(13,827

)

 

$

(6,212

)

Cost of revenues

 

 

(130

)

 

 

(562

)

Research and development expenses

 

 

(239

)

 

 

(5,657

)

Selling, general and administrative expenses

 

 

4,786

 

 

 

2,306