SAGE Therapeutics (SAGE) has released an update to notify the public and investors about an entry into a material definitive agreement.
Sage Therapeutics, Inc. has signed a lease for approximately 30,567 square feet of office space in Cambridge, Massachusetts, to serve as its new corporate headquarters after its current leases expire on August 31, 2024. The lease begins on September 1, 2024, or when improvements are completed, with an initial term of sixty-six months and a starting monthly base rent of $224,158, increasing approximately 3% annually. The company has an option for a five-year extension and has received a $3.4 million construction allowance, with a letter of credit provided as a security deposit.
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