CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 27, 2019--
Sage Therapeutics (Nasdaq: SAGE), a clinical-stage biopharmaceutical
company developing novel medicines to treat life-altering central
nervous system (CNS) disorders, today announced the closing of its
previously announced underwritten public offering of common stock,
including the exercise in full by the underwriters of their option to
purchase an additional 500,000 shares at the public offering price of
$150.00 per share, less the underwriting discount. The exercise of the
option to purchase additional shares brought the total number of shares
of common stock sold by Sage to 3,833,334 shares and increased the
amount of gross proceeds raised in the offering, before underwriting
discounts and estimated expenses of the offering, to approximately $575
million.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as joint
book-running managers for the offering.
The shares were offered by Sage pursuant to an automatically effective
shelf registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission (SEC) on December 18, 2018. The
final prospectus supplement relating to the offering was filed with
the SEC on February 27, 2019 and is available on the SEC’s web site at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to these securities may also be obtained by
contacting one of the following: Goldman Sachs & Co. LLC, at Prospectus
Department, 200 West Street, New York, New York 10282, by telephone at
866-471-2526, by facsimile at 212-902-9316 or by e-mail at prospectus-ny@ny.email.gs.com or J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717 or by telephone at 866-803-9204.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction.
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 CNS
disorders. Sage's lead product candidate, ZULRESSO™ (brexanolone)
injection, has completed Phase 3 clinical development for postpartum
depression and a New Drug Application is currently under review with the
U.S. Food and Drug Administration. Sage is developing a portfolio of
novel product candidates targeting critical CNS receptor systems,
including SAGE-217, which is in Phase 3 development in major depressive
disorder and postpartum depression.
Forward-Looking Statements
This press release contains forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995
including, without limitation, statements related to Sage’s plans to
develop novel medicines to treat life-altering CNS disorders. These
forward-looking statements are based on the current expectations of our
management team as of the date of this press release and are subject to
risks, uncertainties, changes in circumstances, assumptions and other
factors that may cause actual results to be materially different from
those reflected in the forward-looking statements. Important factors
that could cause actual results to differ materially from those
indicated by such forward-looking statements include, among others, the
risk that we may not be successful in our efforts to develop our product
candidates and novel medicines. These and other risks are discussed in
our filings with the SEC, including, without limitation, our Annual
Report on Form 10-K, filed on February 19, 2019, and our periodic
reports on Form 10-Q and Form 8-K, as well as the risks identified in
the registration statement and the prospectus supplement relating to the
offering. In addition, any forward-looking statements represent our
views only as of today and should not be relied upon as representing our
views as of any subsequent date. We explicitly disclaim any obligation
to update any forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190227005806/en/
Source: Sage Therapeutics
Investor Contact:
Paul Cox
617-299-8377
paul.cox@sagerx.com
Media Contact:
Maureen L. Suda
585-355-1134
maureen.suda@sagerx.com