CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sage Therapeutics (NASDAQ: SAGE), a clinical-stage biopharmaceutical company developing novel medicines to treat life-altering central nervous system (CNS) disorders, today announced the pricing of an underwritten public offering of 4,402,515 shares of its common stock at a public offering price of $39.75 per share, before underwriting discounts. In addition, Sage has granted the underwriters a 30-day option to purchase up to an additional 660,377 shares of its common stock.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC and Leerink Partners LLC are serving as lead managers. Canaccord Genuity Inc. and William Blair & Company, L.L.C. are serving as co-managers. The offering is expected to close on September 14, 2016, subject to customary closing conditions.

Sage anticipates the total gross proceeds from the offering (before deducting underwriters' discounts and commissions and estimated offering expenses) will be approximately $175.0 million, excluding any exercise of the underwriters' option to purchase additional shares.

About Sage Therapeutics

Sage Therapeutics is a clinical-stage biopharmaceutical company committed to developing novel medicines to transform the lives of patients with life-altering central nervous system (CNS) disorders. Sage has a portfolio of novel product candidates targeting critical CNS receptor systems, GABA and NMDA. Sage's lead program, SAGE-547, is in Phase 3 clinical development for super-refractory status epilepticus, a rare and severe seizure disorder, and is being developed for postpartum depression. Sage is developing its next generation modulators, including SAGE-217, SAGE-689 and SAGE-718, with a focus on acute and chronic CNS disorders.