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Minerva Neurosciences Reports Third Quarter 2025 Financial Results and Business Updates

NERV
  • Minerva Neurosciences reported Q3 2025 business updates & financial results for the period ending September 30, 2025.
  • The company received $80 million in gross proceeds from a private placement on October 23, 2025, with potential additional proceeds of $80 million from Tranche A warrant exercises & $40 million from Tranche B warrant exercises upon Phase 3 trial endpoint achievement.
  • CEO Dr. Remy Luthringer stated the financing supports the Phase 3 confirmatory trial of roluperidone for schizophrenia negative symptoms, NDA resubmission, & potential US commercial launch.
  • R&D expenses for the three months ended September 30, 2025, were $0.9 million compared to $1.9 million in the same period of 2024, driven by lower validation campaign costs & consultant fees.
  • R&D expenses for the nine months ended September 30, 2025, were $3.6 million compared to $9.9 million in the same period of 2024.
  • G&A expenses for the three months ended September 30, 2025, were $1.9 million compared to $2.5 million in the same period of 2024, primarily due to lower professional service fees.
  • G&A expenses for the nine months ended September 30, 2025, were $6.5 million compared to $7.4 million in the same period of 2024.
  • Non-cash interest expense was zero for both the three-month & nine-month periods in 2025, compared to zero for the three-month period & $4.6 million for the nine-month period in 2024.
  • Other income was zero for the three-month & nine-month periods in 2025, compared to zero & $26.6 million in 2024, respectively, due to the absence of royalty liability adjustments in the current year.
  • Net loss for the three-month period ended September 30, 2025, was $2.7 million ($0.36 per share) compared to net income of $22.5 million ($2.97 per share) in 2024.
  • Net loss for the nine-month period ended September 30, 2025, was $9.8 million ($1.29 per share) compared to net income of $5.7 million ($0.75 per share) in 2024.
  • Cash, cash equivalents, & restricted cash totaled approximately $12.4 million as of September 30, 2025, down from $21.5 million at December 31, 2024.
  • Total assets were $28.1 million as of September 30, 2025, down from $37.1 million at December 31, 2024.
  • Total liabilities remained relatively stable at $62.7 million as of September 30, 2025, compared to $62.8 million at December 31, 2024.
  • Stockholders' deficit increased to $34.6 million as of September 30, 2025, from $25.7 million at December 31, 2024.