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SAGE Therapeutics, Inc. (SAGE) Uses Fast-Tracked SAGE 547 as Springboard in Successful Public Offering

This week, SAGE Therapeutics announced the closing of its initial public offering of 5,750,000 shares of its common stock at a public offering price of $18.00 per share. Before underwriting discounts, the offering includes the exercise in full by the underwriters of an option to purchase up to 750,000 additional shares of common stock.

Acting as joint book-running managers for the offering were J.P. Morgan Securities LLC and Goldman, Sachs & Co. Leerink Partners LLC acted as lead manager and Canaccord Genuity Inc. acted as co-manager.

The Food and Drug Administration recently granted fast track designation to development program, SAGE-547. The program is an allosteric modulator of GABAA receptors in development for the treatment of adult patients with refractory status epilepticus who previously have not responded to standard procedures. SAGE is currently evaluating SAGE-547 in a Phase 1/2 clinical trial for the treatment of super-refractory status epilepticus (SRSE). Early data shows the first four patients enrolled in the clinical trial met the key effective endpoint, leading to each being successfully weaned off his or her anesthetic agent while SAGE-547 was being administered. There have been no serious drug-related, adverse events in these four patients reported to date.

“The fast track designation for SAGE-547 recognizes the significant unmet need that exists in the treatment of super-refractory status epilepticus,” commented Jeff Jonas, MD, CEO of SAGE Therapeutics. “The receipt of orphan drug designation earlier this year for status epilepticus and the fast track designation are both significant regulatory milestones for SAGE-547, and we will continue to work closely with the FDA to advance our lead compound and the additional programs in our pipeline for the treatment of life-threatening CNS disorders.”

SAGE Therapeutics is a biopharmaceutical company with a focus on developing and marketing novel medicines to treat life-threatening, rare CNS disorders. Its core program, SAGE-547, is in clinical development for super-refractory status epilepticus and is the first of several compounds the company is developing in its portfolio of potential seizure medicines.

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