Minerva Neurosciences — Third Quarter 2026 Earnings Summary

Minerva Neurosciences reported a GAAP net income of $100.7 million for the third quarter of 2026, driven primarily by a $109.6 million non-cash gain from changes in the fair value of warrant liability. The company's ongoing Phase 3 C19 trial for roluperidone, a potential first treatment for negative symptoms of schizophrenia, is on track to provide topline efficacy data in the second half of 2027. Research and development expenses increased to $5.2 million for the quarter due to costs associated with the C19 trial and higher compensation. Additionally, the company published a scientific article in Schizophrenia Research advocating for non-dopaminergic mechanisms and improved clinical trial methodologies for treating negative symptoms.