Sage Therapeutics Inc. (NASDAQ:SAGE) saw its shares soar over 45% to $8.09 following a nonbinding acquisition proposal from Biogen Inc. (NASDAQ:BIIB), which offered $7.22 per share. Biogen currently holds a 10.2% stake in Sage, having initially collaborated with the company in November 2020 to develop treatments SAGE-217 and SAGE-324. This collaboration included Biogen purchasing 6.24 million shares at $104.14 each. Notably, SAGE-217 received FDA approval in August 2023 as Zurzuvae for postpartum depression, while SAGE-324 faced setbacks that led to Biogen terminating their collaboration in September 2024. Additionally, Sage's Dalzanemdor (SAGE-718) encountered trial failures in 2024. The Sage Board is now set to review Biogen's acquisition offer. Historically, Sage's stock peaked at $195 in January 2018 but has fluctuated between $4.62 and $28.26 over the past year [52fd1b34].
In related news, BioVie Inc. (NASDAQ:BIVI) also experienced a significant increase in call options trading activity, with investors purchasing 12,329 call options, a staggering 1,033% increase compared to previous trading activity. The stock traded up $0.59, reaching $1.83, with a market capitalization of $72.96 million. BioVie focuses on developing drugs for chronic debilitating conditions [44747ddd].
Navitas Semiconductor Co. (NASDAQ:NVTS) saw unusual options trading as well, with traders buying 12,102 call options, an increase of approximately 679%. The stock is currently trading at $5.64, down 8.1% from the previous close. Insider trading has also been active, with 127,060 shares sold in the last 90 days [05c408e1].
Blueprint Medicines Corporation recently granted non-qualified stock options and restricted stock units (RSUs) to three new employees under its 2020 Inducement Plan, with options priced at $96.42 per share [8aeff54e].
Additionally, the State of Tennessee Treasury Department increased its stock holdings in Biogen by 71.1% during the 4th quarter, acquiring an additional 26,350 shares, bringing its total to 63,396 shares valued at $16,405,000. Biogen's stock is currently trading at $225.74, with a market capitalization of $32.87 billion and a P/E ratio of 28.18. The company reported $3.67 EPS for the last quarter, surpassing analysts' expectations [cc53f357].