0819 ET - Sage Therapeutics is unlikely to accept Biogen's $7.22-a-share buyout bid, say analysts at Mizuho, who note the proposal implies a negative enterprise value for the biopharmaceutical company. In a research note, Mizuho's Uy Ear and Leo Watson say Biogen's bid came as a surprise to Sage's management, which believes the company is worth significantly more. Mizuho says Sage thinks Zurzuvae has "blockbuster plus" potential in postpartum depression and that there is significant value in its pipeline, including SAGE-319, which it is testing in various neurodevelopmental disorders. Sage up 1.3% to $7.60 premarket, above Biogen's takeout bid. Sage surged 35% on Monday. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 08:19 ET (13:19 GMT)
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