Market
Story
Biogen Offers $469 Million for Sage Therapeutics at $7.22 Per Share, a 30% Premium
Jan 10, 2025, 11:25 PM
Biogen Inc. has made an unsolicited nonbinding offer to acquire Sage Therapeutics Inc. for $7.22 per share, valuing the company at approximately $469 million. The offer represents a 30% premium over Sage's closing price, leading to a 34% increase in Sage's stock price during after-hours trading. Sage, known for developing Zurzuvae, the first and only oral drug approved by the FDA for postpartum depression, has confirmed receipt of the proposal. The acquisition comes after Sage has experienced setbacks and a decline in its market value, with recent financials showing a cash burn of about $110 million in expenses against $11 million in revenue for the third quarter of 2024 (3Q24), and a cash balance of approximately $560 million at the end of September 2024.
View original story
Similar markets
Acquisition completed at a different price • 25%
Acquisition not completed • 25%
Acquisition rejected • 25%
Acquisition completed at proposed price • 25%
Decreases by more than 10% • 25%
Increases by more than 50% • 25%
Increases by 30-50% • 25%
Remains stable (±10%) • 25%
Multiple acquisitions completed • 25%
No acquisitions completed • 25%
Successful acquisition of another biotech • 25%
Successful acquisition of Sage Therapeutics • 25%
Completed Sale • 25%
Ongoing Negotiations • 25%
Talks Abandoned • 25%
Other Outcome • 25%
Underperforms the biotech index • 25%
Highly volatile with no clear trend • 25%
Outperforms the biotech index • 25%
Performs in line with the biotech index • 25%
Other outcome • 25%
Acquisition faces significant delays • 25%
Acquisition terminated • 25%
Acquisition completed successfully • 25%
Another named biotech company • 25%
Multiple companies • 25%
No further acquisitions • 25%
Stoke Therapeutics • 25%