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Sage Therapeutics plans $575M common stock offering

Sage Therapeutics Inc. initiated an underwritten public offering of $575.0 million of its common stock.

The company also plans to grant the underwriters an option to buy up to an additional $86.3 million of its common stock.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers for the offering.