Supernus 15-Min Chart Experiences Bollinger Bands Expanding Downward, Bearish Marubozu Pattern

Based on the 15-minute chart for Supernus, the Bollinger Bands are currently expanding downward, indicating a bearish Marubozu candle at 13:45 on July 28, 2025. This suggests that market trends are being driven by sellers, indicating a bearish momentum that is likely to persist.

Supernus Pharmaceuticals (NASDAQ: SUPN) has announced that the Hart-Scott-Rodino (HSR) waiting period for its proposed acquisition of Sage Therapeutics (NASDAQ: SAGE) has expired. The expiration of this period clears one of the conditions necessary to complete the acquisition. The tender offer includes a cash payment of $8.50 per share plus a non-transferable contingent value right (CVR) worth up to $3.50 per share based on specified milestones. The tender offer expires on July 30, 2025, after which Supernus plans to finalize the acquisition through a merger.

The HSR Act waiting period expired at 11:59 p.m. Eastern Time on July 25, 2025. Supernus and Sage entered into a Merger Agreement on June 13, 2025, and filed the necessary premerger notification and report forms with the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice on June 25 and June 30, respectively. The expiration of the HSR Act waiting period satisfies one of the conditions to consummate the offer.

The tender offer, which is subject to remaining conditions, provides for the exchange of all outstanding shares of Sage’s common stock for $8.50 in cash per share, plus a non-transferable CVR worth up to $3.50 per share. The CVR is contingent on achieving specific milestones, including the first commercial sale of ZURZUVAE in Japan by June 2026, and U.S. sales exceeding $250 million, $300 million, and $375 million by 2027, 2028, and 2030, respectively. The maximum total payment for the CVR is $3.50 per share.

Upon completion of the tender offer, Supernus intends to acquire Sage through a merger, making it a wholly owned subsidiary. The Shares not previously purchased in the offer will be converted into the right to receive the offer price, less applicable withholding taxes. The Shares will be delisted from the NASDAQ Global Market.

Moelis & Company LLC is acting as the exclusive financial advisor to Supernus, while Goldman Sachs & Co. LLC is serving as the exclusive financial advisor to Sage. Saul Ewing LLP and Kirkland & Ellis LLP are serving as legal counsel to Supernus and Sage, respectively.

Investors and security holders are urged to review the tender offer materials filed with the Securities and Exchange Commission (SEC) for more information. The materials, including the Tender Offer Statement, Offer to Purchase, and Solicitation/Recommendation Statement, are available on the SEC’s website at www.sec.gov and on the websites of Supernus and Sage.

[1] https://www.stocktitan.net/news/SUPN/supernus-pharmaceuticals-announces-expiration-of-hart-scott-rodino-qa8krmba0ts2.html