On January 10, 2025, Biogen Inc. submitted an unsolicited, nonbinding proposal to acquire all outstanding shares of Sage Therapeutics that it does not already own. The proposed transaction values the remaining shares at $7.22 apiece, totaling approximately $442 million.
This proposal indicates Biogen's strategic interest in further integrating its partnership with Sage Therapeutics. The announcement led to a significant increase in Sage Therapeutics' stock, which rose 34% in extended trade following the news.
Sage Therapeutics' board of directors is expected to carefully review and evaluate the proposal in consultation with its independent financial and legal advisors. This potential acquisition could allow Biogen to consolidate its position in certain therapeutic areas and streamline development efforts for shared assets.
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