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What are the details?
SAGE Therapeutics (Nasdaq:SAGE) today announced that it has commenced an underwritten public offering of $100 million of shares of its common stock. All of the shares in the offering are to be sold by SAGE. SAGE intends to grant the underwriters a 30-day option to purchase up to an additional $15 million of shares of common stock at the public offering price, less the underwriting discount.
J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Leerink Partners LLC and Cowen and Company, LLC are serving as co-managers. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
A registration statement on Form S-1 relating to the securities proposed to be sold in this offering has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.
SAGE Therapeutics is a biopharmaceutical company committed to developing and commercializing novel medicines to treat life-threatening, rare central nervous system, or CNS, disorders. SAGE’s lead program, SAGE-547, is entering Phase 3 clinical development for super-refractory status epilepticus, or SRSE, and is the first of several compounds the Company is developing in its portfolio of potential anti-seizure medicines. SAGE’s proprietary chemistry platform has generated multiple new compounds that target GABAA and NMDA receptors, which are broadly accepted as impacting many psychiatric and neurological disorders.
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