Sage Therapeutics, Inc. (NASDAQ:SAGE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November6, 2017, Sage Therapeutics, Inc. (the “Company”) elected Asha Nayak, M.D., Ph.D., to the Board of Directors of the Company. Dr.Nayak was elected as a ClassIII director, and will serve until the Company’s annual meeting of stockholders in 2020 or until her successor is duly elected and qualified or her earlier resignation or removal. Dr. Nayak was elected to the Nominating and Corporate Governance Committee of the Board of Directors, until her earlier resignation and removal or, if earlier, until such time as she is no longer a member of the Board of Directors.
Dr.Nayak currently serves as chief medical officer at Intel Corporation where she guides its healthcare investment strategy and provides clinical and business leadership to Intel’s broad spectrum of healthcare programs. Dr.Nayak served as co-principal investigator on four clinical studies that demonstrated the value of Intel technologies in the areas of oncology and preventative cardiology. Before joining Intel, she was vice president at New Leaf Venture Partners, guiding its investments in the medical device sector. Earlier, Dr.Nayak created and led several new therapy programs at Medtronic. Now, and throughout her career, Dr.Nayak maintains an active clinical practice at the Stanford VA emergency department. She is the inventor on numerous patents and is published in several textbooks and peer-reviewed journals. Dr.Nayak holds an M.D. and Ph.D. in neuroscience from the University of Colorado and completed internal medicine residency and Biodesign Innovation Fellowship programs at Stanford University.
As a non-employee director, Dr.Nayak will receive cash and equity compensation paid by the Company to its non-employee director compensation program. There are no arrangements or understandings between Dr.Nayak and any other person to which Dr.Nayak was selected as a director, and there are no transactions between Dr.Nayak and the Company that would require disclosure under Item404(a) of Regulation S-K.
Item 5.02 Other Events.
On November8, 2017, the Company issued a press release announcing the election of Dr.Nayak to the Board of Directors of the Company. A copy of the press release is filed herewith as Exhibit 99.1.
Item 5.02 Financial Statements and Exhibits.
(d) Exhibits
Sage Therapeutics, Inc. ExhibitEX-99.1 2 d467853dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Sage Therapeutics Appoints Asha Nayak,…To view the full exhibit click here
About Sage Therapeutics, Inc. (NASDAQ:SAGE)
SAGE Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. Its lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the GABAA receptor. Its product candidates, SAGE-217 and SAGE-689, also targets the GABAA receptor system. The Company is focused on developing drugs based on selective allosteric modulation of CNS synaptic and extrasynaptic receptors. The Company’s chemistry platform is focused on chemical scaffolds of endogenous or chemically modified synthetic neuroactive steroid compounds that are allosteric modulators of GABAA or N-Methyl-D-aspartic acid or N-Methyl-D-aspartate (NMDA) receptors. Its SAGE-718 is a product candidate selected for development from its NMDA receptor program.
