$SAGE
Sage Therapeutics, Inc.

2021 Q4 Form 10-K Financial Statement

#000156459022006495 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $1.642M $6.308M $1.109B
YoY Change -99.85% -99.43% 56491.12%
Cost Of Revenue $87.00K $553.0K $100.0K
YoY Change -13.0% -7.83% -50.0%
Gross Profit $1.555M $5.755M $1.109B
YoY Change -99.86% -99.48% 65141.18%
Gross Profit Margin 94.7% 91.23% 99.99%
Selling, General & Admin $51.60M $183.5M $53.50M
YoY Change -3.55% -6.83% -37.13%
% of Gross Profit 3318.26% 3188.5% 4.82%
Research & Development $75.44M $283.2M $81.70M
YoY Change -7.66% -3.26% -10.51%
% of Gross Profit 4851.64% 4920.35% 7.37%
Depreciation & Amortization $333.0K $4.200M $600.0K
YoY Change -44.5% 61.54% -14.29%
% of Gross Profit 21.41% 72.98% 0.05%
Operating Expenses $127.0M $466.7M $135.2M
YoY Change -6.04% -9.91% -23.44%
Operating Profit -$125.5M -$460.9M $974.0M
YoY Change -112.88% -177.3% -657.71%
Interest Expense $751.0K $2.883M $800.0K
YoY Change -6.13% -69.96% -86.44%
% of Operating Profit 0.08%
Other Income/Expense, Net $24.00K $134.0K $100.0K
YoY Change -76.0% -46.4% 0.0%
Pretax Income -$124.7M -$457.9M $974.9M
YoY Change -112.79% -175.55% -677.89%
Income Tax
% Of Pretax Income
Net Earnings -$124.7M -$457.9M $974.9M
YoY Change -112.79% -175.55% -678.05%
Net Earnings / Revenue -7595.13% -7258.91% 87.89%
Basic Earnings Per Share -$7.80 $18.71
Diluted Earnings Per Share -$2.117M -$7.80 $18.19
COMMON SHARES
Basic Shares Outstanding 58.67M
Diluted Shares Outstanding 58.67M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.742B $1.742B $2.100B
YoY Change -17.02% -17.01% 108.21%
Cash & Equivalents $294.2M $294.2M $1.661B
Short-Term Investments $1.448B $1.448B $438.5M
Other Short-Term Assets $39.84M $39.84M $22.80M
YoY Change 74.74% 74.74% -14.61%
Inventory
Prepaid Expenses
Receivables $18.51M $18.51M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.801B $1.801B $2.122B
YoY Change -15.16% -15.16% 105.04%
LONG-TERM ASSETS
Property, Plant & Equipment $3.016M $19.13M $6.755M
YoY Change -55.35% -39.86% -25.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.251M $5.520M $3.341M
YoY Change 27.24% 8.24% -11.92%
Total Long-Term Assets $24.65M $24.65M $36.88M
YoY Change -33.17% -33.03% -24.83%
TOTAL ASSETS
Total Short-Term Assets $1.801B $1.801B $2.122B
Total Long-Term Assets $24.65M $24.65M $36.88M
Total Assets $1.825B $1.825B $2.159B
YoY Change -15.47% -15.46% 99.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.45M $10.45M $3.691M
YoY Change 183.12% 182.43% -75.82%
Accrued Expenses $67.28M $26.70M $54.85M
YoY Change 22.65% 11.73% -36.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $85.19M $85.19M $67.20M
YoY Change 26.77% 26.78% -40.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.0K $11.06M $270.0K
YoY Change -62.96% -43.84% -47.98%
Total Long-Term Liabilities $100.0K $11.06M $270.0K
YoY Change -62.96% -43.84% -47.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.19M $85.19M $67.20M
Total Long-Term Liabilities $100.0K $11.06M $270.0K
Total Liabilities $96.26M $96.26M $86.91M
YoY Change 10.75% 10.77% -37.7%
SHAREHOLDERS EQUITY
Retained Earnings -$1.495B -$1.037B
YoY Change 44.13% -36.88%
Common Stock $3.227B $3.110B
YoY Change 3.78% 20.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.729B $1.729B $2.072B
YoY Change
Total Liabilities & Shareholders Equity $1.825B $1.825B $2.159B
YoY Change -15.47% -15.46% 99.16%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$124.7M -$457.9M $974.9M
YoY Change -112.79% -175.55% -678.05%
Depreciation, Depletion And Amortization $333.0K $4.200M $600.0K
YoY Change -44.5% 61.54% -14.29%
Cash From Operating Activities -$97.50M -$378.2M $1.011B
YoY Change -109.64% -156.93% -966.32%
INVESTING ACTIVITIES
Capital Expenditures -$372.0K $372.0K $0.00
YoY Change 7.83% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$29.89M -$1.002B $45.50M
YoY Change -165.69% -326.2% -360.0%
Cash From Investing Activities -$30.26M -$1.002B $45.50M
YoY Change -166.51% -326.45% -352.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.0K 13.33M 419.7M
YoY Change -100.04% -96.88% 19885.71%
NET CHANGE
Cash From Operating Activities -97.50M -378.2M 1.011B
Cash From Investing Activities -30.26M -1.002B 45.50M
Cash From Financing Activities -170.0K 13.33M 419.7M
Net Change In Cash -127.9M -1.367B 1.476B
YoY Change -108.67% -189.15% -1213.27%
FREE CASH FLOW
Cash From Operating Activities -$97.50M -$378.2M $1.011B
Capital Expenditures -$372.0K $372.0K $0.00
Free Cash Flow -$97.13M -$378.6M $1.011B
YoY Change -109.61% -157.02% -969.3%

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CY2019 sage Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
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CY2021 sage Increase Decrease In Operating Lease Liabilities Non Current
IncreaseDecreaseInOperatingLeaseLiabilitiesNonCurrent
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2020 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
458720000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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442684000
CY2021 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
14719000
CY2020 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
9262000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2019 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2019 us-gaap Proceeds From Issuance Of Common Stock
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561277000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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426762000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1533726000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-64238000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
129072000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
193310000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
295502000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1662798000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
129072000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
872000
CY2021 sage Lease Asset De Recognized Upon Lease Cancellation
LeaseAssetDeRecognizedUponLeaseCancellation
3733000
CY2020 sage Lease Asset De Recognized Upon Lease Cancellation
LeaseAssetDeRecognizedUponLeaseCancellation
2310000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2687000
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
606100000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1500000000
CY2021 us-gaap Proceeds From Collaborators
ProceedsFromCollaborators
1000000000.0
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates<span style="font-style:normal;"> </span></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:3.4%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets </p> <p style="margin-top:6pt;margin-bottom:0pt;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. </span><span style="Background-color:#FFFFFF;color:#212529;">The full extent to which the COVID-19 pandemic </span><span style="Background-color:#FFFFFF;color:#212529;">may</span><span style="Background-color:#FFFFFF;color:#212529;"> directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including</span><span style="Background-color:#FFFFFF;color:#212529;">:</span><span style="Background-color:#FFFFFF;color:#212529;"> </span><span style="Background-color:#FFFFFF;color:#212529;">the scope and duration of the pandemic; the </span><span style="color:#000000;">effectiveness of vaccination campaigns, vaccine mandates, and other efforts to control the pandemic; the duration of the vaccines’ efficacy against COVID-19 and its variants; </span><span style="color:#000000;">the duration and severity of </span><span style="color:#000000;">any restrictive</span><span style="color:#000000;"> measures taken to curb the spread of COVID-19</span><span style="color:#000000;">; </span><span style="color:#000000;">healthcare staffing shortages; </span><span style="color:#000000;">and</span><span style="color:#000000;"> the impact</span><span style="color:#000000;"> of the pandemic</span><span style="color:#000000;"> on </span><span style="color:#000000;">the Company’s</span><span style="color:#000000;"> customers</span><span style="color:#000000;"> and vendors</span><span style="color:#000000;">.</span><span style="color:#000000;"> </span><span style="color:#000000;">The</span><span style="Background-color:#FFFFFF;color:#212529;"> </span><span style="Background-color:#FFFFFF;color:#212529;">Company has made estimates of the impact of </span><span style="Background-color:#FFFFFF;color:#212529;">the </span><span style="Background-color:#FFFFFF;color:#212529;">COVID-19</span><span style="Background-color:#FFFFFF;color:#212529;"> pandemic</span><span style="Background-color:#FFFFFF;color:#212529;"> within its</span><span style="Background-color:#FFFFFF;color:#212529;"> consolidated </span><span style="Background-color:#FFFFFF;color:#212529;">financial statement</span><span style="Background-color:#FFFFFF;color:#212529;">s. </span><span style="color:#000000;">D</span><span style="color:#000000;">ue to the </span><span style="color:#000000;">evolving nature of the</span><span style="color:#000000;"> COVID-19 pandemi</span><span style="color:#000000;">c</span><span style="color:#000000;">, and the emergence of highly contagious variants,</span><span style="Background-color:#FFFFFF;color:#212529;"> </span><span style="Background-color:#FFFFFF;color:#212529;">there may be changes to those estimates in future periods</span><span style="Background-color:#FFFFFF;color:#212529;">, and a</span><span style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ctual results could differ from those estimates</span><span style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p>
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk and of Significant Suppliers</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:3.4%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains accounts for all cash and cash equivalents at accredited financial institutions, in amounts that exceed federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.4%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is dependent on third-party manufacturers to supply products for research and development activities for its programs. The Company also relies and expects to continue to rely on third-party manufacturers to supply it with active pharmaceutical ingredients (“API”) and formulated drugs; and to provide other services related to manufacturing activities for these programs. These programs could be adversely affected by a significant interruption in the supply of API and formulated drugs, or the interruption of manufacturing related services.</p>
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7989000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13843000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4973000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7088000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3016000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6755000
CY2021 us-gaap Depreciation
Depreciation
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CY2020 us-gaap Depreciation
Depreciation
2600000
CY2019 us-gaap Depreciation
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CY2021Q4 sage Accrued Research And Development Costs
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CY2020Q4 sage Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
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14769000
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5184000
CY2020Q4 us-gaap Other Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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54851000
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2021Q4 us-gaap Investments Fair Value Disclosure
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1448063000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1742296000
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1661082000
CY2020Q4 us-gaap Investments Fair Value Disclosure
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438467000
CY2020Q4 us-gaap Assets Fair Value Disclosure
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2099549000
CY2021Q4 sage Fair Value Assets Transfers Among Level1 Level2 And Level3 Amount
FairValueAssetsTransfersAmongLevel1Level2AndLevel3Amount
0
CY2020Q4 sage Fair Value Assets Transfers Among Level1 Level2 And Level3 Amount
FairValueAssetsTransfersAmongLevel1Level2AndLevel3Amount
0
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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27000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
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1448063000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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438052000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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451000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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36000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
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438467000
CY2021Q4 us-gaap Employee Related Liabilities Current
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CY2021Q4 us-gaap Accrued Professional Fees Current
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CY2021Q4 us-gaap Other Accrued Liabilities Current
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617000
CY2021Q4 us-gaap Accrued Liabilities Current
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67275000
CY2021Q4 us-gaap Lessor Operating Lease Renewal Term
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P5Y
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2020Q4 us-gaap Lessee Operating Lease Term Of Contract
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CY2020 us-gaap Lease Expiration Date1
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2022-01-31
CY2020Q4 sage Remaining Amount Of Lease Write Off
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CY2020Q4 us-gaap Restricted Cash
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25064000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7468000
CY2020Q4 us-gaap Operating Lease Liability Current
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8662000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10964000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
19438000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18432000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28100000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
8748000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
8838000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
9804000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
1600000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
2285000
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
2675000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
74000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
438000
CY2021 us-gaap Sublease Income
SubleaseIncome
234000
CY2021 us-gaap Lease Cost
LeaseCost
10215000
CY2020 us-gaap Lease Cost
LeaseCost
11197000
CY2019 us-gaap Lease Cost
LeaseCost
12917000
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
9264000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
9231000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
9946000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
872000
CY2021 sage Lease Asset De Recognized Upon Lease Cancellation
LeaseAssetDeRecognizedUponLeaseCancellation
3733000
CY2020 sage Lease Asset De Recognized Upon Lease Cancellation
LeaseAssetDeRecognizedUponLeaseCancellation
2310000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders.
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2020 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2019Q1 us-gaap Stock Issued During Period Shares New Issues
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3833334
CY2019Q1 us-gaap Shares Issued Price Per Share
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150.00
CY2019Q1 sage Proceeds From Issuance Of Common Stock Net Of Offering Expenses
ProceedsFromIssuanceOfCommonStockNetOfOfferingExpenses
560900000
CY2020 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6241473
CY2020Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
104.14
CY2020 sage Proceeds From Issuance Of Common Stock Net Of Offering Expenses
ProceedsFromIssuanceOfCommonStockNetOfOfferingExpenses
650000000.0
CY2021 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3033
CY2021Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
400000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8539537
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
5672875
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
550890
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
113941
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
8800000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
268119
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
0
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
104629000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
104629000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
51.87
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0063
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M1D
CY2021 sage Share Based Compensation Arrangement By Share Based Payment Award Weighted Average Estimated Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardWeightedAverageEstimatedForfeitureRate
0.167
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-457892000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
606073000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58670230
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51983188
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2020 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
1019927
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58670230
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7592
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53003115
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.80
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.66
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.80
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.43
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7186388
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4781737
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-457693000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
639986000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-199000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-33913000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-457892000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
606073000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-680238000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.019
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.057
CY2020 sage Effective Income Tax Rate Reconciliation Premium On Equity Investment
EffectiveIncomeTaxRateReconciliationPremiumOnEquityInvestment
0.101
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.052
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.009
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.012
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.016
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.035
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.015
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.024
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.207
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.176
CY2021 sage Deferred Tax Assets Operating Loss Carryforwards Domestic Subject To Limitation Percentage
DeferredTaxAssetsOperatingLossCarryforwardsDomesticSubjectToLimitationPercentage
0.80
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
148000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
470604000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
376103000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
470604000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
376103000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
1300000000
CY2021Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
40100000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
305824000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
222607000
CY2021Q4 sage Deferred Tax Assets Capitalized Start Up Costs
DeferredTaxAssetsCapitalizedStartUpCosts
735000
CY2020Q4 sage Deferred Tax Assets Capitalized Start Up Costs
DeferredTaxAssetsCapitalizedStartUpCosts
873000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
106176000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
90460000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
6684000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
3157000
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1401000
CY2020Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1614000
CY2021Q4 sage Deferred Tax Assets Stock Based Compensation
DeferredTaxAssetsStockBasedCompensation
49281000
CY2020Q4 sage Deferred Tax Assets Stock Based Compensation
DeferredTaxAssetsStockBasedCompensation
56520000
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
3702000
CY2020Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
5981000
CY2021Q4 sage Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
4236000
CY2020Q4 sage Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
6705000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
-31000
CY2021 sage Tax Credits Expiration Start Year
TaxCreditsExpirationStartYear
2034
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
94500000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
470600000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
376100000
CY2021 sage Valuation Allowance Deferred Tax Increase Decrease Amount
ValuationAllowanceDeferredTaxIncreaseDecreaseAmount
94500000
CY2020 sage Valuation Allowance Deferred Tax Increase Decrease Amount
ValuationAllowanceDeferredTaxIncreaseDecreaseAmount
-107200000
CY2019 sage Valuation Allowance Deferred Tax Increase Decrease Amount
ValuationAllowanceDeferredTaxIncreaseDecreaseAmount
174900000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
396000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
5688000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6084000
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2019Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2019 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2019 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.06
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
3600000
CY2020Q2 sage Operating Expenses Workforce Reduction Percentage
OperatingExpensesWorkforceReductionPercentage
0.53
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2020 us-gaap Restructuring Charges
RestructuringCharges
27743000
CY2020 us-gaap Payments For Restructuring
PaymentsForRestructuring
25102000
CY2020 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
2438000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
203000
CY2021 us-gaap Payments For Restructuring
PaymentsForRestructuring
203000

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