Sage Therapeutics, Inc. (NASDAQ:SAGE) Files An 8-K Other EventsItem 8.01 Other Events.
On February13, 2018, Sage Therapeutics, Inc. (the “Company”) completed the sale of 3,506,098shares of its common stock to the underwriters as part of the Company’s previously announced public offering at the public offering price of $164.00 per share, less underwriting discounts and commissions (the “Offering Price”). The Company’s proceeds raised in the offering, after underwriting discounts and commissions, and before estimated expenses of the offering, were approximately $549.1million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 525,914shares of its common stock at the Offering Price.
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.