Latest news with #Zurzuvae
Yahoo
2 days ago
- Business
- Yahoo
SAGE to be Acquired by Supernus Pharmaceuticals in $795 Million Deal
Sage Therapeutics SAGE announced that Supernus Pharmaceuticals SUPN has agreed to acquire SAGE through a tender offer of $8.50 per share in cash, totaling around $561 million. Additionally, shareholders will receive a non-tradable contingent value right (CVR) worth up to $3.50 per share, bringing the total potential value of the deal to $12 per share in cash, or approximately $795 million. The CVR will be paid if certain sales and commercial milestones are met. The transaction is expected to be closed in the third quarter of 2025, subject to customary closing conditions. Shares of Sage Therapeutics rose 35.4% on Monday following the announcement of the deal with SUPN. The offer price represented a premium of almost 32% on Sage Therapeutics' closing price of $9.07 on June 16. Year to date, shares of SAGE have rallied 23.4% against the industry's decline of 0.8%. Image Source: Zacks Investment Research The potential acquisition would provide SUPN rights to SAGE's new depression drug, Zurzuvae (zuranolone), the first and only oral treatment indicated for adults with postpartum depression (PPD). The drug was approved in August 2023 and commercially launched in December 2023. SAGE markets Zurzuvae in partnership with drug giant Biogen BIIB. Sage Therapeutics and Biogen equally share profits and losses for the commercialization of Zurzuvae in the United States. In ex-U.S. markets, Biogen records product sales (excluding Japan, Taiwan and South Korea, where Shionogi holds the rights) and pays royalties to SAGE. Following the latest turn of events, Supernus will recognize collaboration revenues that are 50% of Biogen's U.S. net sales of Zurzuvae. SAGE's collaboration revenues from the sale of Zurzuvae were $13.8 million in the first quarter of 2025 and $36.1 million in 2024. The initial uptake of Zurzuvae has exceeded expectations. The acquisition of Sage Therapeutics is likely to complement Supernus' diverse neuroscience portfolio, which includes approved treatments for attention-deficit hyperactivity disorder, dyskinesia in Parkinson's disease, epilepsy and other central nervous system disorders. SUPN expects the deal to be significantly accretive in 2026 and to further diversify its revenue base. Sage Therapeutics previously rejected a takeover proposal from Biogen to acquire the remaining shares of SAGE in January 2025. Per Sage Therapeutics, the offer significantly undervalued the company and was not in the best interest of shareholders. Biogen made an acquisition offer to buy the remaining shares of SAGE that it did not already own for $7.22 per share in January. The offer price represented a premium of 30% on Sage Therapeutics' closing price of $5.55 on Jan. 10. Per a SEC filing by the company, Biogen owns a 10.2% stake in SAGE. It can be inferred that Supernus has outbid Biogen to acquire Sage Therapeutics. Sage Therapeutics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Supernus Pharmaceuticals, Inc. (SUPN) : Free Stock Analysis Report Sage Therapeutics, Inc. (SAGE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 登入存取你的投資組合
Yahoo
4 days ago
- Business
- Yahoo
Sage, following Setbacks, to sell to Supernus for $561M
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Sage Therapeutics, a brain drug developer that's dealt with a series of clinical setbacks, has agreed to be acquired by Supernus Pharmaceuticals in a deal worth $561 million. Supernus on Monday said it would pay $8.50 per share for Sage, an offer valuing shares at a roughly 27% premium to their previous closing price. The deal also includes a contingent value right worth up to $3.50 per share if certain sales and commercial milestones related Sage's lone product, the postpartum depression drug Zurzuvae, are met. Sage earlier this year turned down a $7.22-per-share offer from Zurzuvae development partner Biogen and sued the company, arguing it was being undervalued. The company has been evaluating 'strategic alternatives,' a process that included a search for a buyer, ever since. Sage has gone through a roller coaster ride since its founding more than a decade ago. Launched by Third Rock Ventures and run for many years by biotech veteran Jeff Jonas, the company aimed to develop brain drugs for a variety of conditions, from epilepsy and tremors to Huntington's disease. The company went public in 2014 to support that work and saw its share price swell to nearly $200 apiece a few years later as a pair of depression medicines advanced through testing. It brought to market not only the first medicine for postpartum depression, Zulresso, but the first pill for the condition, called Zurzuvae. It cut a multibillion-dollar partnership deal with Biogen, too. But Zulresso, a 60-hour infusion, never generated significant sales and Sage stopped marketing it at the end of the year. And the company had initially hoped to bring Zurzuvae to market for major depressive disorder — a much larger opportunity — but changed course and laid off staff after U.S. regulators asked for additional testing. Sage has suffered setbacks elsewhere, too, with experimental drugs failing studies in epilepsy, tremors, Alzheimer's, Huntington's and Parkinson's disease over the years. Company shares closed on Friday at $6.70 apiece and have fallen so low in recent months that Sage's board accused Biogen of lowballing the company with an earlier bid. The deal with Supernus feels 'like an unremarkable outcome for a company that was once one of the hottest stories' in brain drug research, wrote Stifel analyst Paul Matteis in a note to clients Monday. Matteis added that, for investors, though, the acquisition 'is a good end to the Sage story given the host of challenges facing the company.' In a separate note, RBC Capital Markets' Brian Abrahams called Supernus' offer 'fair' given the 'considerable time' it would have taken for Sage to become profitable. Abrahams also wrote that there is a 'very low likelihood' that Sage hits the majority of the sales targets that would bump up its sale price. Sage stockholders would get $1 per share if Zurzuvae hits $250 million in sales in the U.S. by 2027, and similar payouts if U.S. drug sales reach $300 million by 2028 and $375 million by 2030. Zurzuvae generated $72 million in U.S. sales in 2024. Biogen and Sage split U.S. profits. Recommended Reading Moderna inks another gene editing deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Boston Globe
4 days ago
- Business
- Boston Globe
Sage Therapeutics gets acquired by Maryland drugmaker for up to $795 million
The deal comes after Sage 'We have a proven track record of strong commercial execution, and we look forward to building on ZURZUVAE's U.S. growth momentum and collaboration with Biogen, so that more women with postpartum depression can benefit from this novel treatment,' Supernus president and CEO Jack Khattar said in the news release. Advertisement But the FDA in 2023 did not approve Sage's and Biogen's request to clear Zurzuvae to treat major depressive disorder, a much more prevalent condition. That was a major setback for the companies. In August 2023, Sage Advertisement Supernus will acquire Sage for $8.50 per share — approximately $561 million — plus an additional $3.50 per share if it reaches certain milestones, for a total of up to $795 million, according to the release. Sage was founded in 2010 to focus on brain diseases, and had its initial public offering in 2014. Stella Tannenbaum can be reached at
Yahoo
4 days ago
- Business
- Yahoo
Supernus makes depression drug play with $795m Sage buyout
Fewer than five months after rejecting a takeover approach by Biogen, Sage Therapeutics has found a buyer in Supernus Pharmaceuticals. According to the deal, Supernus will pay up to $795m to acquire depression treatment specialist Sage. The contract value significantly eclipses the $469m offered by Biogen in January 2025, a proposal that was swiftly rejected by Sage. The transaction has been approved by the boards of directors of both US-headquartered companies and is expected to close in Q3 2025. Share price in Sage surged 26% at market open in the US following the announcement on 16 June while Supernus shares opened 1% higher. In a statement, the two biotechs said that Sage is a 'strong fit with existing Supernus infrastructure'. Supernus has approved products in the US to treat Parkinson's disease and attention deficit hyperactivity disorder (ADHD), among others. Supernus is acquiring all shares of Sage for a price of $8.50 each, totalling an initial $561m. An additional $3.50 per share will be added to the deal depending on sales and commercial milestones for Sage's flagship product Zurzuvae (zuranolone), giving a potential deal value of $795m. Zurzuvae, whose ownership rights will now transfer to Supernus, is the only US Food and Drug Administration (FDA)-approved pill to treat postpartum depression. The acquisition affords Supernus a dominant position in the market. Co-developed with Biogen, Zurzuvae earned Sage $36.1m in sales in 2024 and $13.8m in Q1 2025. Following a 2020 agreement, Biogen has the exclusive licence to develop and commercialise Zurzuvae outside the US, excluding Japan, Taiwan, and South Korea. Sage, and now Supernus, retains US rights. Analysis by Pharmaceutical Technology's parent company GlobalData forecasts US sales of the drug to reach $290m by 2031. Sage struggled late last year with a series of mid-stage clinical trial failures. The company laid off 55% of its R&D team as a result, prioritising the commercial launch of Zurzuvae instead. Supernus's CEO Jack Khattar said: '[The acquisition] augments our growth profile by adding a significant fourth growth product to our portfolio and further diversifies our sources of future growth. Zurzuvae aligns with our focus on acquiring novel value-enhancing and clinically differentiated medicines to treat central nervous system conditions.' 'We have a proven track record of strong commercial execution, and we look forward to building on Zurzuvae's US growth momentum and collaboration with Biogen, so that more women with postpartum depression can benefit from this novel treatment.' "Supernus makes depression drug play with $795m Sage buyout" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CNBC
5 days ago
- Business
- CNBC
Stocks making the biggest moves premarket: U.S. Steel, Roku, Celsius, Sarepta Therapeutics and more
Check out the companies making headlines before the opening bell on Wall Street. U.S. Steel — U.S. Steel shares jumped 5%s after President Donald Trump issued an executive order on Friday approving its merger with Japan's Nippon Steel. The companies also signed a national security agreement that includes a golden share for the U.S government. Although U.S. Steel did not specify what powers the government would wield with its share, Trump said on Thursday that the golden share gives the U.S. president " total control ." Roku — The streaming platform jumped 8.5% after announcing an exclusive partnership with Amazon that gives advertisers access to what the two called "the largest authenticated footprint in connected TV ." The agreement enables advertisers to reach roughly 80 million U.S. households through the Amazon platform. Advanced Micro Devices — The chipmaker added more than 2% after a price target increase from Piper Sandler. After AMD's quarterly pre-quarter close call on Friday, Piper said it expects AMD's AI business to surge after the third quarter when China-related charges have passed, and noted increased conviction among investors about a key hyperscaler client. EchoStar — The satellite company jumped more than 40% after Bloomberg News reported late Friday that President Donald Trump had pushed the head of the Federal Communications Commission to resolve a spectrum dispute. The company has threatened to file for bankrupty protection and claims FCC threats blocked its ability to decide on a 5G network buildout. Celsius — Shares of the energy drink company rallied about 4% after TD Cowen upgraded the stock to buy from hold , saying its "growth story is heating back up" and shares should trade higher this year. The investment bank said it confident in the Celsius brand, smooth integration of the company's Alani Nu acquisition and wider distribution next year. Victoria's Secret — Shares added 3% following a report that activist investor Barrington Capital Group has built a stake in the retailer. Barrington intends to push Victoria's Secret to overhaul its board and refocus its business, the Wall Street Journal said, citing unnamed sources. Sage Therapeutics — Sage soared 35% after agreeing to be acquired by Supernus Pharmaceuticals in a deal worth $12 a share, or $795 million. The deal would accelerate diversify Supernus' revenue base and add FDA-approved postpartum depression drug treatment Zurzuvae, according to a statement. Sage shareholders would receive $8.50 a share in cash and a non-tradable contingent value right payable upon certain specific milestones worth up to $3.50 per share. Sarepta Therapeutics — The biopharmaceutical company plunged more than 37% after Sarepta reported the death of a second patient receiving its Elevidys gene therapy for Duchenne muscular dystrophy. Sarepta halted shipments of Elevidys and is taking steps to improve safety for non-ambulatory patients. — CNBC's Jesse Pound and Michelle Fox contributed reporting.
