According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- zuranolone, a neuroactive steroid for the treatment of postpartum depression (“PD”) and major depressive disorder (“MDD”), was less effective in treating MDD than defendants had led investors to believe;
- accordingly, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the Zuranolone New Drug Application (“NDA”) for the treatment of MDD in its present form, and zuranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated;
- SAGE-718 (dalzanemdor) was less effective in treating mild cognitive impairment (“MCI”) due to PD than defendants had led investors to believe;
- accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated;
- SAGE-324 (BIIB124) was less effective in treating essential tremor (“ET”) than defendants had led investors to believe;
- accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and
- as a result of all the foregoing, Sage’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
