<SEC-DOCUMENT>0000950157-25-000586.txt : 20250721
<SEC-HEADER>0000950157-25-000586.hdr.sgml : 20250721
<ACCEPTANCE-DATETIME>20250721211850
ACCESSION NUMBER:		0000950157-25-000586
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250721
DATE AS OF CHANGE:		20250721

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Sage Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001597553
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88275
		FILM NUMBER:		251138464

	BUSINESS ADDRESS:	
		STREET 1:		55 CAMBRIDGE PARKWAY
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
		BUSINESS PHONE:		617-299-8380

	MAIL ADDRESS:	
		STREET 1:		55 CAMBRIDGE PARKWAY
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOGEN INC.
		CENTRAL INDEX KEY:			0000875045
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				330112644
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		225 BINNEY STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
		BUSINESS PHONE:		7814642000

	MAIL ADDRESS:	
		STREET 1:		225 BINNEY STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIOGEN IDEC INC.
		DATE OF NAME CHANGE:	20070427

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIOGEN IDEC INC
		DATE OF NAME CHANGE:	20031112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDEC PHARMACEUTICALS CORP / DE
		DATE OF NAME CHANGE:	19970530
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13D/A</submissionType>
<previousAccessionNumber>0000950170-25-004311</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0000875045</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>1</amendmentNo>
<securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
<dateOfEvent>07/21/2025</dateOfEvent>
<previouslyFiledFlag>true</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0001597553</issuerCIK>
<issuerCUSIP>78667J108</issuerCUSIP>
<issuerName>Sage Therapeutics, Inc.</issuerName>
<address>
<com:street1>55 Cambridge Parkway</com:street1>
<com:city>Cambridge</com:city>
<com:stateOrCountry>MA</com:stateOrCountry>
<com:zipCode>02142</com:zipCode>
</address>
</issuerInfo>
<authorizedPersons>
<notificationInfo>
<personName>Wendell Taylor, Secretary</personName>
<personPhoneNum>(617) 679-2000</personPhoneNum>
<personAddress>
<com:street1>Biogen Inc.</com:street1>
<com:street2>225 Binney Street</com:street2>
<com:city>Cambridge</com:city>
<com:stateOrCountry>MA</com:stateOrCountry>
<com:zipCode>02142</com:zipCode>
</personAddress>
</notificationInfo>
</authorizedPersons>
</coverPageHeader>
<reportingPersons>
<reportingPersonInfo>
<reportingPersonCIK>0000875045</reportingPersonCIK>
<reportingPersonName>Biogen Inc.</reportingPersonName>
<fundType>OO</fundType>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>6241473</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>6241473</sharedDispositivePower>
<aggregateAmountOwned>6241473</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>10</percentOfClass>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<commentContent>With respect to Row 13 above, the calculation is based on the number of shares of Common Stock of the Issuer outstanding as of April 22, 2025, as disclosed in the Issuer's most recent quarterly report on Form 10-Q filed on April 29, 2025.</commentContent>
</reportingPersonInfo>
<reportingPersonInfo>
<reportingPersonNoCIK>Y</reportingPersonNoCIK>
<reportingPersonName>Biogen MA Inc.</reportingPersonName>
<fundType>OO</fundType>
<citizenshipOrOrganization>MA</citizenshipOrOrganization>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>6241473</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>6241473</sharedDispositivePower>
<aggregateAmountOwned>6241473</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>10</percentOfClass>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<commentContent>With respect to Row 13 above, the calculation is based on the number of shares of Common Stock of the Issuer outstanding as of April 22, 2025, as disclosed in the Issuer's most recent quarterly report on Form 10-Q filed on April 29, 2025.</commentContent>
</reportingPersonInfo>
</reportingPersons>
<items1To7>
<item1>
<securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
<issuerName>Sage Therapeutics, Inc.</issuerName>
<issuerPrincipalAddress>
<com:street1>55 Cambridge Parkway</com:street1>
<com:city>Cambridge</com:city>
<com:stateOrCountry>MA</com:stateOrCountry>
<com:zipCode>02142</com:zipCode>
</issuerPrincipalAddress>
<commentText>This Amendment No. 1 to Schedule 13D (this "Amendment") amends and supplements the previously filed statement on Schedule 13D filed on January 10, 2025 (as amended and supplemented from time to time, the "Schedule 13D").&#13;
&#13;
Except as set forth below, all Items of the Schedule 13D remain unchanged. Capitalized terms used in this Amendment and not otherwise defined shall have the respective meanings assigned to such terms in the Schedule 13D. The information set forth in response to each separate Item below shall be deemed to be a response to all Items where such information is relevant. The Schedule 13D is hereby supplementally amended as follows:</commentText>
</item1>
<item4>
<transactionPurpose>Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following:&#13;
&#13;
From March 2025 through May 2025, the Reporting Persons engaged in discussions and diligence with the Issuer with respect to a potential sale of the Issuer to the Reporting Persons. On May 5, 2025, the Reporting Persons submitted to representatives of the Issuer a non-binding proposal to acquire all of the outstanding shares of Common Stock not owned by the Reporting Persons or their subsidiaries for an upfront payment of $9.00 per share in cash and one contingent value right per share representing the right to receive $2.00 in cash upon annual net sales of ZURZUVAE in the U.S. in a calendar year first equaling or exceeding $450 million and $2.00 in cash upon annual net sales of ZURZUVAE in the U.S. in a calendar year first equaling or exceeding $700 million (the "May 5 Proposal"). The May 5 Proposal was submitted subject to resolution of specific diligence matters. After the May 5 Proposal, representatives of the Reporting Persons and representatives of the Issuer continued to engage in discussions and diligence with respect to a potential transaction (including with respect to such specific diligence matters). On May 15, 2025, the Issuer terminated all discussions and diligence with respect to a potential transaction with the Reporting Persons.&#13;
&#13;
On June 16, 2025, the Issuer announced that it entered into an Agreement and Plan of Merger (the "Merger Agreement"), dated June 13, 2025, with Supernus Pharmaceuticals, Inc., a Delaware corporation ("Parent"), and Saphire, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Purchaser"), pursuant to which, upon the terms and subject to the conditions therein, Purchaser will commence a tender offer (the "Offer") to acquire all of the Issuer's issued and outstanding Common Stock in exchange for $8.50 per share in cash plus one contingent value right per share representing the right to receive up to $3.50 per share upon the satisfaction of certain milestones. On July 2, 2025, Purchaser commenced the Offer, which Offer is currently scheduled to expire at one minute following 11:59 P.M., Eastern Time, on July 30, 2025, unless extended or earlier terminated (the "Offer Expiration Time").&#13;
&#13;
At or before the Offer Expiration Time, the Reporting Persons intend to tender all or a portion of the Common Stock held by the Reporting Persons to Purchaser in the Offer or to dispose of all or a portion of the Common Stock held by the Reporting Persons.&#13;
&#13;
The Reporting Persons do not intend to disclose developments with respect to the foregoing, except as required by applicable law.</transactionPurpose>
</item4>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>Biogen Inc.</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Michael Dambach</signature>
<title>Michael Dambach / Treasurer</title>
<date>07/21/2025</date>
</signatureDetails>
</signaturePerson>
<signaturePerson>
<signatureReportingPerson>Biogen MA Inc.</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Michael Dambach</signature>
<title>Michael Dambach / Treasurer</title>
<date>07/21/2025</date>
</signatureDetails>
</signaturePerson>
</signatureInfo>
</formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
