Sage Therapeutics soars after Biogen makes $441.7 mln bid for company

Sage Therapeutics

10/01/2025 23:16

** Shares of drug developer Sage Therapeutics  SAGE.O  rise
about 33% to $7.38 in extended trading
    ** Biogen  BIIB.O  sends letter to SAGE CEO offering to buy
all outstanding shares of the company it does not already own
    ** BIIB offers to buy all SAGE shares for $7.22 per share in
cash, implying a total deal value of $441.7 mln, according to
Reuters calculations
    ** BIIB, which is SAGE's largest shareholder, currently owns
10.2% or over 6.24 mln shares of SAGE common stock
    ** The share price offered implies a 30% premium to SAGE's
closing price on Friday
    ** SAGE stock fell ~75% in 2024

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))