Ahead of planned Zulresso launch, Sage raises $500M

Weeks ahead of the PDUFA date for its antidepressant Zulresso brexanolone, Sage Therapeutics Inc. (NASDAQ:SAGE) raised $500 million in a follow-on.

The company sold 3.3 million shares at $150, a 6% discount to Monday's close of $159.37. Sage proposed the offering after market close on Monday, then priced it later in the evening. Sage was off $6.61 to $152.76 on Tuesday...