Collaboration Agreements (Tables)

6 Months Ended

Jun. 30, 2024

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