Directors of a biopharmaceutical company have been compensating themselves more than four times as much as directors at similarly sized peer companies were paid, a shareholder has alleged in a Delaware Court of Chancery case.

According to the derivative action complaint filed against Sage Therapeutics Inc. on Aug. 14 in the name of shareholder John Solak, the company's board of directors approved compensating each of its non-employee directors an average of nearly $1.6 million in 2019, a year in which Sage reported $6.9 million in revenue and reported a net income loss of $680.2 million. All of the directors received more than $1 million in 2018 and 2019.