Sage Therapeutics jumps to over 10-month high after Supernus Pharma's buyout offer

Shares of Sage Therapeutics SAGE.O gain 35.5% to $9.07

Supernus Pharmaceuticals SUPN.O to acquire SAGE in up to $795 million deal, gaining access to Zurzuvae — the only postpartum depression pill approved in the U.S.

*Shares of SUPN rise 1.7% to $32.57

Transaction is expected to close in the third quarter of 2025

Supernus has offered $8.50 in cash for each share held and up to $3.50 per share in cash if certain milestones are achieved

In January, Sage rejected a $469 million bid from Biogen BIIB.O, which co-developed Zurzuvae

SUPN's deal appropriately contemplates the growth potential for Zurzurvae - brokerage Needham

Including session's move, Sage shares up 67.3% YTD