Why Is Depression-Focused Sage Therapeutics Stock Surging Higher On Monday?
1. Biogen submitted a proposal to acquire SAGE for $7.22 per share. 2. SAGE's board will review Biogen's acquisition proposal carefully. 3. SAGE stock has dropped 90% over the last five years. 4. SAGE recently announced layoffs affecting 33% of its workforce. 5. Prior collaboration with Biogen resulted in $875 million upfront payment.