I'm LongbridgeAI. Here is the key information I extracted- The offer represents a 30% premium over Sage's closing price, valuing the company at $441.7 million, while Biogen currently holds a 10.2% stake in Sage. …
According to the Zhitong Finance APP, American pharmaceutical company Biogen (BIIB.US) announced on Friday that it will acquire the outstanding shares of Sage Therapeutics (SAGE.US) at a price of $7.22 per share, driving the latter's stock price up 34% in after-hours trading.
Regulatory filings show that Biogen owns 10.2% of Sage Therapeutics. This offer represents a 30% premium over Sage Therapeutics' closing price on Friday, valuing Sage at $441.7 million.
Due to concerns about cost, efficacy, and side effects, Biogen's Alzheimer's drug Leqembi has been slowly recovering in sales in the U.S.
Sage's stock price plummeted 75% in 2024. After multiple trial failures, the company abandoned the development of the drug dalzanemdor. Last November, Sage stated that it would focus on the postpartum depression drug Zurzuvae, developed in collaboration with Biogen.
In July of last year, Sage also abandoned the development of another neurological disease drug in collaboration with Biogen