Sage Therapeutics, a biotech developing treatments for life-threatening seizures, announced terms for its IPO on Tuesday. The Cambridge, MA-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Sage Therapeutics would command a fully diluted market value of $382 million.
Sage Therapeutics, which was founded in 2010, plans to list on the NASDAQ under the symbol SAGE. Sage Therapeutics initially filed confidentially on March 28, 2014. J.P. Morgan and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of July 14, 2014.
