Sage Therapeutics

Sage Therapeutics ($SAGE)
Based: Cambridge, MA
IPO price: $18
Close Sept. 30: $31.50
Change: Up 75%
Raised: $90 million

Scoop: Speaking of gene therapy, Third Rock Ventures startup Sage Therapeutics repeatedly dialed up its asking price and deal size on the way to a $90 million summer IPO. And the revised valuation still left money on the table, as investors bid up the biotech's shares by more than 50% on Day 1, an expression of faith in the company's plans to develop gene therapies for rare CNS disorders. Sage plans to use $10 million of its proceeds to fund Phase I/II study of SAGE-547, a therapy for super-refractory status epilepticus (SE). Another $10 million will pay for preclinical work on SAGE-689, designed to treat adjunctive SE, with $7 million earmarked for SAGE-217, a pre-IND treatment designed to be a maintenance therapy for the disease, and the rest going toward general corporate costs. SE is a rare, life-threatening seizure condition with no approved treatments, according to the company.

For more:
Sage takes to the FDA fast track with its lead rare disease drug
Sage soars after banking $90M in an up-sized IPO
Sage snags $38M from A-list VCs to bankroll its seizure drugs
Third Rock startup Sage banks $20M as it 'thinks big' about CNS drugs

Sage Therapeutics
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