Sage Therapeutics Jumps on Biogen’s $469 Million Offer (1)

Shares of Sage Therapeutics Inc. surged after Biogen Inc. offered to acquire the neuroscience-focused drugmaker for about $469 million.

The offer of $7.22 a share was disclosed Oct. 10 after US markets closed. The company said it’s reviewing the deal.

Sage shares surged 36% to $7.57 a share on Monday at 9:46 a.m. New York time. The stock had lost 75% of its value in 2024. Biogen shares were little changed Monday.

Biogen made the offer ahead of the annual JPMorgan Healthcare Conference this week in San Francisco. The meeting is often a hotbed of dealmaking and preliminary discussions between ...