Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers and acquirers of Sage Therapeutics, Inc. (NASDAQ: SAGE) securities between April 12, 2021 and July 23, 2024, both dates inclusive (the “Class Period”). Sage Therapeutics is a biopharmaceutical company that develops and commercializes brain health medicines.

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The Allegations: Rosen Law Firm is Investigating the Allegations that Sage Therapeutics, Inc. (NASDAQ: SAGE) Misled Investors Regarding its Business Operations.

According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) zuranolone, a neuroactive steroid for the treatment of postpartum depression (“PD”) and major depressive disorder (“MDD”), was less effective in treating MDD than defendants had led investors to believe; (2) accordingly, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the Zuranolone New Drug Application (“NDA”) for the treatment of MDD in its present form, and zuranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (3) SAGE-718 (dalzanemdor) was less effective in treating mild cognitive impairment (“MCI”) due to PD than defendants had led investors to believe; (4) accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (5) SAGE-324 (BIIB124) was less effective in treating essential tremor (“ET”) than defendants had led investors to believe; (6) accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (7) as a result of all the foregoing, Sage’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

What Now: You may be eligible to participate in the class action against Sage Therapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 28, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.

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