Sage raises $575M in follow-on

Weeks ahead of the PDUFA date for its antidepressant Zulresso brexanolone, Sage Therapeutics Inc. (NASDAQ:SAGE) raised $575 million in a follow-on.

Including an overallotment priced Wednesday, the company sold 3.8 million shares at $150, a 6% discount to its Feb. 25 close of $159.37. Sage proposed the offering after market close that day, then priced it later in the evening...