07:49 AM EDT, 10/17/2024 (MT Newswires) -- SAGE Therapeutics ( SAGE ) said Thursday it is cutting its workforce by 165 employees as part of a business reorganization, which it said it expects to be completed by the end of the year.

The biopharmaceutical company said the cuts equate to approximately 33% of its total workforce and approximately 55% of its research and design team.

SAGE also said it expects a non-recurring charge of approximately $26 million to $28 million related to the reorganization, most of which it said it will incur in Q4.