10:58 AM EDT, 07/24/2024 (MT Newswires) -- Sage Therapeutics ( SAGE ) and Biogen (BIIB) said Wednesday that they will terminate a phase 2 trial of their investigational drug SAGE-324 and don't plan to further develop the drug in essential tremor.

They said that based on topline results from the phase 2 study, SAGE-324 or BIIB124 did not show a statistically significant dose-response relationship on the primary endpoint.

There were also no statistically significant differences between any SAGE-324 dose and placebo in the change from baseline for the primary endpoint, the companies added.

The companies said they are assessing the drug for other potential indications.

Shares of Sage Therapeutics ( SAGE ) fell more than 17% while Biogen shares were up nearly 1% in recent trading.

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