The Life Sciences team advised Sage Therapeutics [Nasdaq: SAGE] on its public offering totaling approximately $345 million in gross proceeds from the sale of 4,058,822 shares of common stock at a price of $85.00 per share, which included the full exercise of the underwriters’ option to purchase additional shares.
Sage Therapeutics is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing novel medicines to transform the lives of patients with life-altering central nervous system (CNS) disorders. Sage’s lead product candidate, brexanolone, is a proprietary intravenous formulation of allopregnanolone, a naturally occurring neuroactive steroid that acts as a positive allosteric modulator of GABAA receptors, including both synaptic and extrasynaptic populations. Sage is currently developing brexanolone as a potential treatment for postpartum depression.
The Goodwin team was led by partners Mitch Bloom and Laurie Burlingame and included partners Janet Andolina, Martin Carmichael, Catherine McCarty and Ettore Santucci; counsel Stephanie Philbin; and associates Humza Bokhari, Gabriela Morales-Rivera, Jesse Nevarez, Andrew Senter and Olivia Uitto.
For more information on the offering, please read the press release.