Collaboration Agreements (Tables)

12 Months Ended

Dec. 31, 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 costs during the periods related to the development of SAGE-217 products and SAGE-324 products, as reflected in our consolidated statements of operations and comprehensive loss:

	Year Ended December 31,
	2024		2023		2022
	(in thousands)
Collaboration revenue - related party	$	36,087	$	824	$	—
Cost of revenues		5,428		504		—
Research and development expenses		20,617		94,325		86,028
Selling, general and administrative expenses		58,950		89,599		51,870

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

	Year Ended December 31,
	2024			2023			2022
	(in thousands)
Collaboration revenue - related party	$	(36,087	)	$	(824	)	$	—
Cost of revenues		(2,723	)		504			—
Research and development expenses		(15,680	)		(76,208	)		(73,227	)
Selling, general and administrative expenses		10,881			16,496			(2,230	)