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SAGE SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Sage Therapeutics, Inc. (NASDAQ: SAGE) and Encourages Long-Term SAGE Investors to Contact the Firm

1. SAGE faces a securities fraud investigation for concealing drug development risks. 2. Investors learned FDA denied zuranolone approval for major depressive disorder (MDD). 3. SAGE abandoned projects SAGE-718 and SAGE-324 due to adverse clinical trial results. 4. Biogen terminated collaboration on SAGE-324 following developmental setbacks. 5. Shares of SAGE declined significantly after these disclosures affected long-term investors.

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FAQ

Why Very Bearish?

The FDA’s denial of zuranolone for MDD and project abandonment signal significant operational challenges, reminiscent of similar cases where FDA rejections led to drastic stock price declines, as seen with other biotech firms like Aegerion Pharmaceuticals post-adverse trial outcomes.

How important is it?

Given the potential legal ramifications and significant operational setbacks, this news could profoundly impact investor confidence and stock performance.

Why Short Term?

The investigation and public perception could create immediate selling pressure and diminish value, paralleling similar near-term impacts faced by companies such as Amarin after unfavorable drug news.

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PHILADELPHIA, April 10, 2025 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Sage Therapeutics, Inc. (NASDAQ: SAGE) (“Sage”) on behalf of the company’s long-term investors. Click here for additional information: https://kaskelalaw.com/case/sage-therapeutics/ Recently a securities fraud complaint was filed against Sage on behalf of certain investors who purchased or acquired shares of the company’s stock between April 12, 2021 and July 23, 2024 (the “Class Period”). According to the complaint, during the Class Period, Sage and certain of the company’s senior executive officers concealed adverse information and substantial risks associated with Sage’s development of three pharmaceuticals: (i) zuranolone (SAGE-217/BIIB125), a flagship drug, then under development in collaboration with affiliates of Biogen Inc. (together, “Biogen”), whose most lucrative potential application was to treat major depressive disorder (“MDD”); (ii) SAGE-718 (dalzanemdor), for the treatment of certain cognitive disorders and diseases; and (iii) SAGE-324 (BIIB124), under development with Biogen, for the treatment of essential tremor. As further detailed in the complaint, by the end of the Class Period, investors learned that the FDA had denied approval of zuranolone for the treatment of MDD because it lacked long-term efficacy and was no better than a placebo after only weeks—a drug profile inconsistent with FDA guidance from 2018 for developing a lasting and effective MDD treatment. Investors also learned that in approving zuranolone for PPD but not MDD, the FDA emphasized that clinical testing seemed to correlate zuranolone with an increased incidence of suicidal ideation and behavior in MDD patients that was not present for PPD patients. Investors were also shocked to learn that Sage abandoned developing SAGE-718 and SAGE-324 due to adverse clinical trials, resulting in Biogen’s decision to terminate its collaboration and license agreement with Sage for the development of SAGE-324. In response to these disclosures, shares of Sage’s common stock significantly declined in value, harming the company’s long-term investors. The investigation seeks to determine whether the members of Sage’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct. Sage shareholders who purchased or acquired their KVUE shares prior to January 1, 2024 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 for additional information about this investigation and their legal rights and options. Alternatively, investors may submit their information to the firm by clicking on the following link (or by copying and pasting the link into your browser): https://kaskelalaw.com/case/sage-therapeutics/ Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. CONTACT: KASKELA LAW LLC D. Seamus Kaskela, Esq.(skaskela@kaskelalaw.com)Adrienne Bell, Esq.(abell@kaskelalaw.com)18 Campus Blvd., Suite 100Newtown Square, PA 19073(484) 229 – 0750www.kaskelalaw.com This notice may constitute attorney advertising in certain jurisdictions.

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