In today's episode of the Yet Another Value Podcast, Host, Andrew Walker, shares his thesis and presentation on Sage Therapeutics, Inc. (NASDAQ: SAGE), a biopharmaceutical company committed to pioneering solutions to deliver life-changing brain health medicines, so every person can thrive.

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Disclosure: long SAGE

Chapters:

[0:00] Episode sponsor: Alphasense

[3:21] Introduction - passive vs. active investing

[7:32] Overview of $SAGE and why its interesting to Andrew: passive owners in the company, shareholder engagement

[13:40] Biogen offer (rejected by Sage) - what happened

[17:34] Expert call with OBGYN (thank you, Alphasense!)

[21:38] Board needs to weigh opportunity cost of cash burn and options

[25:49] Shareholder engagement and IRWD cautionary tale / SAGE board and management compensation

[30:54] Biogen / Sage merger - why it makes sense and final thoughts

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Yasir Qadhi

Jumaah Khutbah 07-03-2025

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