SAN FRANCISCO, CA / ACCESSWIRE / December 12, 2019 / Hagens Berman urges Sage Therapeutics, Inc. (NASDAQ:SAGE) investors who have suffered losses in excess of $100,000 on purchases prior to December 5, 2019 to submit their losses now to learn if they qualify to recover compensable damages. The firm has opened an investigation into Sage and investors may have valuable claims under the federal securities laws.
Relevant Holding Period: On or before Dec. 5, 2019
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Sage Therapeutics, Inc. (SAGE) Investigation:
The investigation centers on whether Sage misrepresented or omitted material facts regarding the efficacy of its SAGE-217 drug.
SAGE-217 is Sage's next generation drug intended to treat major depression disorder in adult patients. The Company has characterized the drug as "a breakthrough therapy product" since it was designed to affect the neurochemistry of patients faster than conventional depression treatments, while purportedly remaining just as potent. Sage has emphasized the drug's market potential given that it can be taken orally, as opposed to its predecessor drug delivered through continuous infusion.
On December 5, 2019, Sage shocked investors when it announced that SAGE-217 has missed the mark in its pivotal Phase 3 MOUNTAIN trial. Specifically, the Company disclosed that the drug fared no better than a placebo at relieving depressive symptoms in adults with major depressive disorder at day 15.
On this news, Sage's shares plunged nearly 60%, wiping out over $4.6 billion in market capitalization in a single trading day.
"We're focused on recovering investors' losses and whether Sage concealed critical facts from investors regarding SAGE-217's viability," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Sage and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Sage should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
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Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP