Minerva Neurosciences Reports Third Quarter 2024 Financial Results and Business Updates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2024
0mins
Source: Newsfilter
Roluperidone NDA Update: Minerva Neurosciences reported ongoing interactions with the FDA regarding their New Drug Application for roluperidone, following a Complete Response Letter received in February 2024.
Financial Results Overview: The company showed a significant increase in net income for Q3 2024 compared to the previous year, reporting $22.5 million in net income, while also noting a decrease in cash reserves from $41 million at the end of 2023 to approximately $26.6 million by September 30, 2024.
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Analyst Views on NERV
Wall Street analysts forecast NERV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NERV is 4.50 USD with a low forecast of 4.00 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 4.170
Low
4.00
Averages
4.50
High
5.00
Current: 4.170
Low
4.00
Averages
4.50
High
5.00
About NERV
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company, which is focused on the development and commercialization of proprietary product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company is involved in developing roluperidone for the treatment of negative symptoms in patients with schizophrenia and has exclusive rights to develop and commercialize MIN-301 for the treatment of Parkinson’s disease. It has also co-developed seltorexant for the treatment of insomnia disorder and adjunctive treatment of major depressive disorder (MDD). Seltorexant is an innovative selective orexin 2 receptor antagonist. Its Roluperidone is a compound that has been shown to block serotonin, sigma, and α-adrenergic receptors that are involved in the regulation of mood, cognition, sleep and anxiety. Roluperidone has been designed to block a specific subtype of serotonin receptor called 5-HT2A.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Minerva Neurosciences to Host KOL Event on Schizophrenia Treatment
- KOL Event Announcement: Minerva Neurosciences will host a virtual KOL event on February 3, 2026, featuring experts in psychology and psychiatry to discuss the patient burden of negative symptoms of schizophrenia and assessment challenges, which is expected to provide critical insights for the upcoming Phase 3 trial.
- Clinical Trial Plans: The company plans to initiate a confirmatory Phase 3 trial in 2026 using a novel protocol aligned with FDA considerations, aimed at maximizing the probability of a successful outcome and addressing the unmet medical need for treating negative symptoms.
- Impact of Negative Symptoms: Approximately 50% to 60% of individuals with schizophrenia experience at least one primary negative symptom, highlighting the urgent medical need as current antipsychotics primarily address positive symptoms without efficacy against negative symptoms.
- Expert Backgrounds: The event will feature Gregory Strauss, PhD, and Brian Kirkpatrick, MD, both of whom have extensive experience in schizophrenia research and have received over $82 million in research funding, underscoring their authority in the field and potential influence on future treatment options.
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