Sage Therapeutics' financials indicate a need for additional funding in 2025, risking dilution and further financial instability. Learn more on SAGE stock here.

Key Takeaways Sage Therapeutics reported that Biogen made an unsolicited offer to purchase all of the shares of the biopharmaceutical firm it doesn't already own.The bid of $7.22 per share was a 30% premium to Sage's closing price on Friday.

The proposed deal comes soon after Sage implemented a restructuring plan to focus on Zurzuvae’s launch in postpartum depression.

Biogen’s proposed acquisition comes after two difficult years of regulatory and clinical challenges, during which shares of Sage Therapeutics have fallen by more than 90%.

Sage stock rose 35% to $7.51 in premarket trading Monday; it closed at $5.55 on Friday. Biogen shares dipped 0.5% to $48.01. Sage’s board will now review and evaluate the offer,

The $7.22-per-share deal for 89.8% of Sage is a 30% premium on the company's share price on Friday and is estimated by Reuters to be worth around $442 million. Biogen has a longstanding alliance in place with Sage and co-markets Zurzuvae (zuranolone), which is FDA-approved for post-partum depression (PPD).

Biogen proposes acquiring Sage Therapeutics for $7.22 per share, as analysts highlight the strategic value of Zurzuvae's success in postpartum depression.