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Collaboration Agreements (Tables)
6 Months Ended
Jun. 30, 2024
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 ongoing costs related to the development of SAGE-217 products and SAGE-324 products, as reflected in our condensed consolidated statement of operations and comprehensive loss:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

 

(in thousands)

 

Collaboration revenue - related party

 

$

7,420

 

 

$

 

 

$

13,633

 

 

$

 

Cost of revenues

 

 

1,294

 

 

 

 

 

 

2,495

 

 

 

 

Research and development expenses

 

 

4,943

 

 

 

27,679

 

 

 

11,974

 

 

 

49,851

 

Selling, general and administrative expenses

 

 

13,072

 

 

 

28,755

 

 

 

26,055

 

 

 

47,718

 

The revenue, cost 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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

 

(in thousands)

 

Collaboration revenue - related party

 

$

(7,420

)

 

$

 

 

$

(13,633

)

 

$

 

Cost of revenues

 

 

(566

)

 

 

 

 

 

(1,128

)

 

 

 

Research and development expenses

 

 

(3,325

)

 

 

(22,418

)

 

 

(8,982

)

 

 

(39,700

)

Selling, general and administrative expenses

 

 

1,019

 

 

 

7,476

 

 

 

3,325

 

 

 

10,510