CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 3, 2017--
Sage Therapeutics (NASDAQ: SAGE), a clinical-stage biopharmaceutical
company developing novel medicines to treat life-altering central
nervous system (CNS) disorders, announced that, on November 1, 2017, the
Compensation Committee of Sage’s Board of Directors granted a
non-qualified stock option to purchase 6,000 shares of its common stock
to one new employee under Sage’s 2016 Inducement Equity Plan.
The 2016 Inducement Equity Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee or
non-employee director of Sage (or following a bona fide period of
non-employment), as an inducement material to such individual's entering
into employment with Sage, pursuant to Rule 5635(c)(4) of the NASDAQ
Listing Rules.
The granted option has an exercise price of $61.83 per share, which is
equal to the closing price of Sage’s common stock on November 1, 2017.
The option will vest, and become exercisable, as to twenty-five percent
of the shares on the one year anniversary of the recipient’s start date,
and will vest and become exercisable as to the remaining 75% of the
shares in 36 equal monthly installments at the end of each month
following the anniversary, in each case, subject to such employee’s
continued employment with Sage on such vesting dates. The option is
subject to the terms and conditions of Sage’s 2016 Inducement Equity
Plan, and the terms and conditions of a stock option agreement covering
the grant.
About Sage Therapeutics
Sage Therapeutics is a clinical-stage biopharmaceutical company
committed to developing novel medicines to transform the lives of
patients with life-altering central nervous system (CNS) disorders. Sage
has a portfolio of novel product candidates targeting critical CNS
receptor systems, GABA and NMDA. Sage's lead program, a proprietary IV
formulation of brexanolone (SAGE-547), is in Phase 3 clinical
development for postpartum depression. Sage is developing its next
generation modulators, including SAGE-217 and SAGE-718, in various CNS
disorders. For more information, please visit www.sagerx.com.
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Source: Sage Therapeutics
Investor Contact:
Sage Therapeutics
Paul Cox,
617-299-8377
paul.cox@sagerx.com
or
Media
Contact:
Suda Communications LLC
Maureen L. Suda,
585-387-9248
maureen.suda@sagerx.com