Earnings Releases·Nov 6, 2026, 9:10 AM ET

Minerva Neurosciences — Third Quarter 2026 Earnings Summary

GAAP net income for Q3 2026 was $100.7 million ($1.94/share), a reversal from the $2.7 million loss in the prior-year period, driven by a $109.6 million non-cash gain on warrant liability; however, adjusted net loss widened to $5.6 million from $2.5 million, while nine-month adjusted losses increased to $20.8 million from $8.9 million.
Operating expenses rose significantly in Q3 2026, with R&D up to $5.2 million from $0.9 million and G&A up to $4.3 million from $1.9 million, primarily due to C19 trial expenses, higher compensation, and a $6.6 million one-time non-cash charge for stock option modifications.
Cash and equivalents decreased to $77.0 million as of September 30, 2026, from $82.4 million at year-end 2025, while total GAAP liabilities declined to $184.1 million from $233.8 million.
Management confirmed the company remains on track for Phase A topline efficacy data in the second half of 2027 and Phase B data in the second half of 2028, with a continued focus on executing the global Phase 3 C19 trial to confirm roluperidone's effect on negative symptoms.