Sage Therapeutics saw its shares surge by 36% in premarket trading Monday, reaching $9.06, after Supernus Pharmaceuticals (NASDAQ:SUPN) announced plans to acquire the neuroscience-focused biotech firm.
The deal values Sage at up to $12 per share, according to details disclosed by the companies.
Meanwhile, elsewhere in the biotech sector, Sarepta Therapeutics (NASDAQ:SRPT) shares slipped in early trading following reports that a second patient has died during treatment with its gene therapy for a rare muscular disorder.
Both announcements are expected to influence investor sentiment across North American healthcare stocks today, as markets digest positive M&A activity alongside renewed safety concerns in the gene therapy space.