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SAGE.US
id: 569, Created by Stan Vick Chase, Scout
Investors are to Fight SAGE mismanagement Losses Back
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
On November 10, 2022, reported a net loss of $137.3 million for Q3 2022 compared to $130.2 million for the same period of 2021.
- Going back on November 27, 2020, Biogen (BIIB) and Sage (SAGE) announced a collaboration to develop and commercialize potential breakthrough therapies in depression and movement disorders (SAGE-217 and SAGE-324).
- The collaboration was global in scope and under the terms of the agreement, Sage received $1.525 billion in cash comprised of an upfront payment of $875 million and a $650 million equity investment in Sage. Should the SAGE-217 and SAGE-324 programs achieve certain development and commercial milestones, Sage will be eligible to receive up to approximately $1.6 billion in potential milestone payments.
- Biogen and Sage costs and profits distribution in the U.S. was set as 50% - Biogen; 50% - Sage. Outside the U.S., Biogen will be responsible for development and commercialization, excluding Japan, Taiwan, and South Korea with respect to SAGE-217, and will pay Sage tiered royalties in the high teens to low twenties.
But after the conclusion of the transaction, Sage's expenses did not become lower in any metrics but even increased.
- In Q3 2020, when the company was responsible for all expenses, its operating costs amounted to $108.8 million,
- In Q3 2021 they increased to $132.3 million, and
- In Q3 2022 they plunged to $143.2 million.
- R&D expenses also increased from $74 million in 2020 to $81.5 million in 2022.
- At the same time, the development portfolio has not expanded, and clinical trials are proceeding as before. It would also be expected that a partnership with such a large company as Biogen will allow economies of scale, but we do not see any synergy.
Taking all the facts into account, Investors have reason to suspect that the Company and its Leaders could, contrary to the interests of shareholders, use additional funds for inappropriate expenses or for a disproportionate increase in their compensation and coverage, which could and is causing direct economic damage to the Company and its investors.
Alleged Offence
Mismanagement,
Financial Misrepresentation,
Fraud,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10 November 2022