Replies to post #254215 on Biotech Values

[DewDiligence]

SAGE responds_to BIIB’s buyout offer by suing:

https://news.bloomberglaw.com/esg/biogen-sued-by-neuroscience-company-sage-days-after-buyout-offer

Sage Therapeutics Inc. sued Biogen Inc. on Friday, a week after the biotech giant made an unsolicited offer to acquire the smaller neuroscience company for about $469 million.

The lawsuit remains under seal with Delaware’s Chancery Court, the leading US forum for merger fights and corporate cases. But a related public filing indicates Sage is seeking an injunction to enforce a standstill agreement against Biogen, its largest shareholder and partner on the postpartum depression drug Zurzuvae. Biogen currently holds a roughly 10% stake in Sage.

[DewDiligence]

SUPN acquires SAGE for $8.50/sh +CVR—a 27% premium to Friday’s close (excluding the CVR):

https://www.globenewswire.com/news-release/2025/06/16/3099695/19871/en/Supernus-Pharmaceuticals-to-Acquire-Sage-Therapeutics-Strengthening-its-Neuropsychiatry-Product-Portfolio.html

The nominal deal value, excluding the CVR, is $561M.