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Sage Therapeutics said Monday that it may need to reduce costs, including through employee layoffs, following the Food and Drug Administration’s denial of its rapid-acting drug for major depressive disorder.

On Friday, the agency granted market clearance for the drug, called Zurzuvae, to treat women with postpartum depression, a smaller commercial market. Sage failed to convince regulators to also approve the drug for depression, a broader condition.

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“We don’t agree with the FDA review,” Sage CEO Barry Greene said during an earnings call, a point he made repeatedly. “We are evaluating the [FDA’s response letter] and as soon as we can provide more clarity, we will, on what the next steps are.

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