Sage Therapeutics Initiates Strategic Review Process and Rejects Proposal from Biogen

On January 27, 2025, Sage Therapeutics, Inc. filed an 8-K report with the Securities and Exchange Commission. The filing disclosed that the Board of Directors of Sage Therapeutics has commenced a strategic review process to explore various alternatives for the company. This process is aimed at maximizing value for shareholders and may include potential strategic transactions, business combinations, or sales.

Additionally, the filing mentioned that the Board unanimously turned down an unsolicited, non-binding proposal received from Biogen Inc. on January 10, 2025. The proposal suggested acquiring all outstanding shares of Sage not already owned by Biogen at a price of $7.22 per share.

Sage Therapeutics has clarified that there is no definitive timeline set for the review process and no decisions have been made regarding potential strategic alternatives at this stage. The company emphasized that there is no certainty that this strategic review will result in any specific transaction or outcome. Sage intends to disclose further developments on this matter only if deemed necessary or appropriate.

While the strategic review is ongoing, Sage Therapeutics remains committed to its primary objective of establishing ZURZUVAE as the benchmark for treating women with postpartum depression. The company’s financial advisor for this process is Goldman Sachs & Co. LLC, with legal representation provided by Skadden, Arps, Slate, Meagher & Flom LLP.

Sage Therapeutics, headquartered in Cambridge, Massachusetts, is a biopharmaceutical firm dedicated to developing innovative brain health medicines. The company holds the distinction of being the creator of the only two FDA-approved treatments for postpartum depression and is actively working on expanding its pipeline to address unmet needs in brain health.

This press release contains forward-looking statements that are subject to various risks and uncertainties. These statements are based on management’s current expectations and may differ from actual results due to factors beyond the company’s control.

For further information, individuals can access the complete filing on the company’s website or through the Securities and Exchange Commission’s official platform.

Contact:
Investor Contact
Ashley Kaplowitz
[email protected]

Media Contacts
Francesca Dellelci
[email protected]
Tim Lynch / Jed Repko
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sage Therapeutics’s 8K filing here.

About Sage Therapeutics

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.