Sage Therapeutics (SAGE) is laying off most of its employees after announcing its planned acquisition earlier this month, The Boston Globe’s Marin Wolf reports. The company will cut 338 jobs effective August 22, according to the report. Sage announced earlier this month that it will be acquired by Supernus Pharmaceuticals (SUPN) in a deal that could be worth up to $795M.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAGE:
- Sage Therapeutics price target lowered to $8.50 from $11 at JPMorgan
- Avidity, BridgeBio, Coty, SAGE, Alkermes: Trending by Analysts
- Sage Therapeutics price target raised to $9 from $7 at Baird
- H.C. Wainwright sees potential competition for Sage from Biogen
- Sage Therapeutics price target raised to $9 from $8 at Truist