Minerva Neurosciences Reports on Strong Second Quarter

Minerva Neurosciences, Inc. (Nasdaq: NERV) has reported a business update and financial results for the second quarter ended June 30, 2023.

Dr. Remy Luthringer, Executive Chairman and Chief Executive Officer of Minerva, said, “In the second quarter, we completed an equity financing of $20.0 million, further strengthening our cash position…as we continue to interact with the FDA in support of their review of our New Drug Application (NDA) for roluperidone for the treatment of negative symptoms of schizophrenia.”

Minerva Neurosciences is included in Prism MarketView’s biotechnology index.

Highlights

In June 2023, the Company completed a private investment in public equity financing of $20 million in gross proceeds from Boehringer Ingelheim, a global biopharmaceutical company with a growing mental health pipeline that includes schizophrenia, and Federated Hermes Kaufmann Funds.

In May 2023, the FDA assigned a Prescription Drug User Fee Act (PDUFA) goal date of February 26, 2024.

In April 2023, FDA confirmed the filing of Minerva’s NDA for roluperidone for the treatment of negative symptoms in patients with schizophrenia.

Minerva’s lead candidate, roluperidone, could potentially be the first approved medication for negative symptoms of schizophrenia, a recognized unmet clinical need.

Basic and diluted net loss for the three and six months ended June 30, 2023 was $6.2 million and $13.2 million, as compared to a net loss for the three and six months ended June 30, 2022 of $8.7 million and $18.5 million.

The company’s cash, cash equivalents, and restricted cash as of June 30, 2023, were approximately $51.9 million, as compared to $36.2 million as of December 31, 2022.

About Minerva Neurosciences

 Minerva Neurosciences, Inc. (Nasdaq: NERV) is a clinical-stage biopharmaceutical company focused on developing product candidates to treat central nervous system (CNS) diseases. Our goal is to transform the lives of patients with improved therapeutic options. Minerva’s portfolio of compounds includes roluperidone (MIN-101), for negative symptoms of schizophrenia, and MIN-301, for Parkinson’s disease. For more information, please visit our website.

 

 

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Minerva Neurosciences Reports on Strong Second Quarter

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