STAT+: Sage Therapeutics cuts most of its workforce following acquisition
Sage Therapeutics is laying off most of its employees after announcing its planned acquisition earlier this month.
The Cambridge, Mass.-based biotech firm will cut 338 jobs effective Aug. 22, according to state filings. In February, the company reported employing 353 full-time staff, including 122 working in research and development.
Notice of the layoffs, filed on June 26, came less than two weeks after Sage announced it would be acquired by Maryland-based Supernus Pharmaceuticals in a deal that could be worth up to $795 million.
Marin Wolf — Boston Globe
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