{"id":6548,"date":"2024-09-28T01:33:00","date_gmt":"2024-09-27T18:33:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2024\/09\/27\/2954663\/34548\/en\/Glancy-Prongay-Murray-LLP-Reminds-Investors-of-Looming-Deadline-in-the-Class-Action-Lawsuit-Against-Sage-Therapeutics-Inc-SAGE.html2954663"},"modified":"2024-09-28T01:36:44","modified_gmt":"2024-09-27T18:36:44","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-sage-therapeutics-inc-sage","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-sage-therapeutics-inc-sage\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Sage Therapeutics, Inc. (SAGE)"},"content":{"rendered":"\n

LOS ANGELES, Sept. 27, 2024 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming October 28, 2024 <\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Sage Therapeutics, Inc. (\u201cSage\u201d or the \u201cCompany\u201d) (NASDAQ: SAGE<\/a>) securities between April 12, 2021 and July 23, 2024<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n

If you suffered a loss on your Sage investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com\/cases\/Sage-Therapeutics-Inc-1\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n

On August 4, 2023, Sage disclosed that the U.S. Food and Drug Administration (\u201cFDA\u201d) had approved the New Drug Application (\u201cNDA\u201d) for its postpartum depression (\u201cPPD\u201d) and major depressive disorder (\u201cMDD\u201d) drug, zuranolone, only as a treatment for adults with PPD and had \u201cissued a Complete Response Letter (CRL) for the [NDA] for zuranolone in the treatment of adults with MDD\u201d because \u201cthe application did not provide substantial evidence of effectiveness to support the approval of zuranolone for the treatment of MDD,\u201d advising that \u201can additional study or studies will be needed\u201d for that additional indication. On this news, Sage\u2019s stock price fell $19.35, or 53.6%, to close at $16.75 per share on August 7, 2023, thereby injuring investors.<\/p>\n

Then, on April 17, 2024, Sage disclosed that a Phase 2 study of SAGE-718 for the treatment of mild cognitive impairment (\u201cMCI\u201d) due to Parkinson\u2019s Disease (\u201cPD\u201d) \u201cdid not meet its primary endpoint\u201d of demonstrating significant differences between participants treated with the drug versus placebo, and thus, \u201c[b]ased on the data, the Company does not plan any further development of [SAGE-718] in PD.\u201d On this news, Sage\u2019s stock price fell $3.06, or 19.6%, to close at $12.57 per share on April 17, 2024.<\/p>\n

Then, on July 24, 2024, Sage disclosed that a Phase 2 study of Sage-324 for the treatment of essential tremor (\u201cET\u201d) \u201cdid not demonstrate a statistically significant dose-response relationship in change from baseline to Day 91 based on the primary endpoint\u201d and \u201cthere were no statistically significant differences demonstrated for any dose of SAGE-324 versus placebo[.]\u201d Due to the results, the Company stated that it would close the ongoing study and did \u201cnot plan to conduct further clinical development of SAGE-324 in ET.\u201d On this news, Sage\u2019s stock price fell $2.70, or 20.6%, to close at $10.38 per share on July 24, 2024, thereby injuring investors further.<\/p>\n

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) zuranolone was less effective in treating MDD than Defendants had led investors to believe; (2) accordingly, the FDA was unlikely to approve the zuranolone NDA for the treatment of MDD in its present form, and zuranolone\u2019s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (3) SAGE-718 was less effective in treating MCI due to PD than Defendants had led investors to believe; (4) accordingly, SAGE-718\u2019s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (5) SAGE-324 was less effective in treating ET than Defendants had led investors to believe; (6) accordingly, SAGE-324\u2019s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (7) as a result, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis at all relevant times.<\/p>\n

Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired Sage securities during the Class Period, you may move the Court no later than October 28, 2024 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n

Contacts <\/strong>
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com<\/a>
www.glancylaw.com<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

LOS ANGELES, Sept. 27, 2024 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0October 28, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Sage Therapeutics, Inc. (\u201cSage\u201d or the \u201cCompany\u201d) (NASDAQ: SAGE) securities between April 12, 2021 and July 23, 2024, inclusive (the \u201cClass Period\u201d). 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