Sage Therapeutics, Inc. (NASDAQ: SAGE), has recently announced several key developments. The company's board of directors has initiated a review of strategic alternatives, seeking to maximize value for shareholders. This includes considering potential strategic transactions, business combinations, or sales. The board has unanimously rejected an unsolicited, nonbinding proposal from Biogen Inc. (NASDAQ: BIIB) to acquire all outstanding shares of Sage not already owned by Biogen for $7.22 per share.
The company remains focused on its goal of establishing Zurzuvae as the standard of care for women with postpartum depression. While the strategic review process is underway, Sage Therapeutics continues to advance its mission of pioneering solutions to deliver life-changing brain health medicines. The company is committed to addressing unmet needs in brain health and has developed the only two FDA-approved treatments indicated for postpartum depression.
Goldman Sachs & Co. LLC is serving as financial advisor to Sage, while Skadden, Arps, Slate, Meagher & Flom LLP is providing legal counsel.
Sage Therapeutics, founded in 2010 and headquartered in Cambridge, Massachusetts, is a biopharmaceutical company dedicated to its mission of improving brain health. As a result of these announcements, the company's shares have moved 4.9% on the market, and are now trading at a price of $7.45. If you want to know more, read the company's complete 8-K report here.
