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SAGE.US
id: 569

Sage Therapeutics (SAGE) Drugs Issues Case

S.D. New York
Court
1:24-cv-06511
Case number
12 Apr 2021
Class period Start
23 Jul 2024
Class period End
28 Oct 2024
Lead Plaintiff motion deadline
  • $SAGE stockholders filed a claim against Sage Therapeutics for overstating the effectiveness and prospects of Zuranolone, SAGE-718, and SAGE-324.
  • After the news on July 24, 2024, $SAGE dropped by over 20%.
  • Sage Therapeutics investors can join this case to be notified about potential recovery.
Case Details:

On July 24, 2024, Sage announced it would stop developing its oral therapy SAGE-324 for essential tremor after a mid-stage trial failed.

The KINETIC 2 Phase 2 trial showed that SAGE-324 did not achieve statistically significant results for its main goal by Day 91.

There were also no significant differences between SAGE-324 and placebo for the primary endpoint.

Additionally, the drug was linked to treatment-emergent adverse events related to the central nervous system.

On this news, $SAGE fell by 20.64% on the same day.

Based on these events, $SAGE investors filed a claim against Sage Therapeutics, accusing the company of the following:
  • The company overstated the effectiveness and prospects of Zuranolone, SAGE-718, and SAGE-324 in treating their respective conditions.
  • This made FDA approval and commercial success less likely than suggested.
Considering all the representations, investors suspect Sage Therapeutics overstated the effectiveness and prospects of Zuranolone, SAGE-718, and SAGE-324.
Case Status
Lead Plaintiff Submission
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
Filing date
28 August 2024
Lead Plaintiff Deadline
28 October 2024
Collecting participants…

Sage Therapeutic

Sage Therapeutics, Inc., a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum de...

    Ticker
    SAGE.US
    ISIN
    US78667J1088
    CIK
    1597553
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    215 First Street, Cambridge, MA, United States, 02142