Overview

A class action lawsuit has been filed against Sage Therapeutics, Inc. (“Sage” or the “Company”) (NASDAQ: SAGE) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Sage class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Sage securities between April 12, 2021, and July 23, 2024, both dates inclusive (the “Class Period”).  Investors have until October 28, 2024, to seek appointment as lead plaintiff of the Sage class action lawsuit.

Sage is a biopharmaceutical company that develops and commercializes brain health medicines.  The Company is developing, inter alia, zuranolone (SAGE-217/BIIB125), a neuroactive steroid for the treatment of postpartum depression (“PPD”) and major depressive disorder (“MDD”), in collaboration with Biogen Inc. (“Biogen”); SAGE-718 (dalzanemdor), an oral, oxysterol-based positive allosteric modulator of the N-methyl-D-aspartate (“NMDA”) receptor for the treatment of, inter alia, mild cognitive impairment (“MCI”) due to Parkinson’s Disease (“PD”); and SAGE-324 (BIIB124), an oral investigational drug for the treatment of essential tremor (“ET”), also in collaboration with Biogen.  In May 2022, Sage announced that it had initiated a rolling submission of a New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for zuranolone in the treatment of MDD.  In June 2022, Sage announced that, rather than filing separate NDAs for zuranolone in the treatment of MDD and PPD, as originally intended, it would instead submit a single NDA seeking approval of zuranolone for the treatment of both MDD and PPD (the “Zuranolone NDA”).  In December 2022, Sage announced the completion of the rolling submission of the Zuranolone NDA to the FDA.

The Sage class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and misleading statements regarding the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) zuranolone was less effective in treating MDD than Defendants had led investors to believe; (2) accordingly, the FDA was unlikely to approve the Zuranolone NDA for the treatment of MDD in its present form, and zuranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (3) SAGE-718 was less effective in treating MCI due to PD than Defendants had led investors to believe; (4) accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (5) SAGE-324 was less effective in treating ET than Defendants had led investors to believe; (6) accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (7) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times

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If you purchased or otherwise acquired Sage securities between April 12, 2021, and July 23, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Sage class action lawsuit is October 28, 2024.