Sage Therapeutics, Inc. (SAGE) announced on Monday that its Board of Directors has commenced a strategic review process to enhance shareholder value. This review encompasses a variety of possibilities, such as engaging in strategic transactions, business mergers, or possibly selling the company.
Furthermore, the Board has unanimously turned down an unsolicited, nonbinding offer from Biogen Inc. (BIIB). This proposal involved acquiring all outstanding shares of Sage that are not already owned by Biogen for $7.22 per share—a valuation the Board considers inadequate.
In the interim, Sage maintains its dedication to positioning ZURZUVAE as the leading treatment for women experiencing postpartum depression, even as it assesses various strategic opportunities.
SAGE shares are currently trading at $24.93, marking an increase of 3.96 percent, equivalent to $0.95, on the Nasdaq.
In comparison, BIIB shares are trading at $147.98, showing a rise of 1.21 percent, or $1.78, on the Nasdaq.
