Sage Therapeutics’ stock craters 49% after FDA approves zuranolone for postpartum depression, but not major depressive disorder

Sage Therapeutics Inc.’s stock SAGE, cratered 49% in premarket trade Monday, on disappointment that the U.S. regulator approved its zuranolone treatment for postpartum depression, but not for major depressive disorder, or MDD, which is a far broader condition. The Food and Drug Administration approved the treatment which was co-developed with Biogen Inc. in an announcement late Friday, making it the first-and-only oral treatment for post-partum, which affects one in eight new mothers in the U.S., according to CDC data. Until now, the only available option for this condition has been...