SAGE Therapeutics (SAGE) to Offer $150M in Common Stock

September 7, 2016 4:03 PM EDT

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Sage Therapeutics (NASDAQ: SAGE), a clinical-stage biopharmaceutical company developing novel medicines to treat life-altering central nervous system (CNS) disorders, today announced that it has commenced an underwritten public offering of $150.0 million of its common stock. Sage also intends to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of its common stock offered in the public offering. All of the shares in the offering are to be sold by Sage.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. 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, or as to the actual size or terms of the offering.

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