Minerva Stock Rises After Securing $200M for Schizophrenia Drug Trial

Benzinga

Minerva Neurosciences secured up to $200M in funding to advance its schizophrenia drug roluperidone. The financing follows FDA approval of its Phase 3 trial plan, aiming to treat negative symptoms unmet by current therapies.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Minerva Neurosciences shares rose Tuesday after announcing up to $200 million in new funding

00:06to advance its schizophrenia drug Rolupiridone, according to Benzinga.

00:10The company secured a securities purchase agreement with institutional investors

00:13providing up to $200 million in gross proceeds through a private placement.

00:17Minerva secured the funding after finalizing its Phase 3 trial plan with the FDA,

00:22using it to support the study and resubmit Rolupiridone for approval.

00:25The company secured a private placement deal led by Vivo Capital

00:28with support from Janice Henderson investors, Federated Herms Kaufman Funds, and others.

00:33CEO Dr. Remy Luthringer said Minerva will now focus fully on completing the conformatory trial

00:38to prove Rolupiridone treats negative schizophrenia symptoms.

00:42Rolupiridone aims to treat the negative symptoms of schizophrenia

00:44experienced by over half of patients, which remain unaddressed by existing approved drugs.

00:49For all things money, visit Benzinga.com.

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