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Investing.com -- Minerva Neurosciences (NASDAQ:NERV) stock soared 130% after the company announced it has secured up to $200 million in financing to advance its schizophrenia treatment candidate through a confirmatory Phase 3 trial.
The clinical-stage biopharmaceutical company said it entered into a securities purchase agreement with institutional investors that will provide $80 million in upfront funding and up to an additional $80 million if all Tranche A warrants are exercised. A further $40 million may be received if Tranche B warrants are exercised upon achievement of a milestone event.
The financing follows Minerva’s August announcement that it had aligned with the FDA on the design of a confirmatory Phase 3 trial for roluperidone, its treatment for negative symptoms in patients with schizophrenia. The company expects the proceeds will fund the trial, NDA resubmission, and potential commercial launch preparations.
"We will now refocus all of our efforts on the successful execution of the confirmatory trial with the objective of demonstrating that roluperidone can effectively treat patients with impairing negative symptoms," said Dr. Remy Luthringer, Chairman and CEO of Minerva.
The private placement, led by Vivo Capital LLC with participation from investors including Janus Henderson and Federated Hermes Kaufmann Funds, is expected to close around October 23, 2025.
As part of the agreement, Minerva will appoint up to three new directors with significant schizophrenia clinical trial experience to strengthen its clinical operations team. The company will also establish a Scientific Advisory Board to provide oversight for the confirmatory trial.
The Phase 3 trial will evaluate a 64 mg dose of roluperidone in a 1:1 randomized double-blind, placebo-controlled study, with the primary endpoint being the change in PANSS Marder negative symptoms factor score at 12 weeks compared to placebo.
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