Sage seeks $575M in pub­lic of­fer­ing; Pfiz­er inks dis­cov­ery pact with Chi­nese firm

Sage Ther­a­peu­tics is hop­ing to raise a whop­ping $575 mil­lion through its lat­est pub­lic of­fer­ing, an­nounced a day af­ter the biotech $SAGE re­ceived a break­through ther­a­py des­ig­na­tion for its lead drug on ma­jor de­pres­sive dis­or­der. In an SEC fil­ing, the com­pa­ny wrote it “an­tic­i­pates that the net pro­ceeds of the of­fer­ing, to­geth­er with its ex­ist­ing cap­i­tal re­sources and es­ti­mat­ed brex­anolone IV prod­uct sales, if the prod­uct is ap­proved, will en­able the com­pa­ny to fund its op­er­at­ing ex­pens­es and cap­i­tal ex­pen­di­ture re­quire­ments in­to 2020.”

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