Minerva Neurosciences, Inc. NERV
We are a clinical-stage biopharmaceutical company focused on the development and commercialization of certain proprietary product candidates to treat patients suffering from central nervous system ("CNS") diseases.
Our lead product candidate, roluperidone, is in development for the treatment of negative symptoms in patients diagnosed with schizophrenia. In August 2022, we submitted a New Drug Application ("NDA") with the FDA for roluperidone for the treatment of negative symptoms in schizophrenia. On February 26, 2024, the FDA issued a Complete Response Letter ("CRL") regarding our NDA for roluperidone. Subsequent to the CRL, we have had multiple interactions with the FDA to confirm the design of an additional Phase 3 confirmatory clinical trial to address the deficiencies cited in the CRL and resubmit the NDA.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $0 | $0 | $0 | $41.2M | $0 | $0 | $0 | — |
| R&D | $5.8M | $11.9M | $12.7M | $14.6M | $32.0M | $22.0M | $58.1M | $34.9M | $30.3M | $20.4M |
| SG&A | $9.3M | $9.9M | $10.4M | $10.6M | $13.3M | $17.3M | $17.7M | $16.8M | $10.9M | $9.8M |
| Total operating expenses | $15.1M | $21.8M | $23.1M | $25.2M | $45.4M | $39.3M | $75.9M | $51.7M | $41.2M | $30.2M |
| Operating income | -$15.1M | -$21.8M | -$23.1M | -$25.2M | -$45.4M | $1.8M | -$75.9M | -$51.7M | -$41.2M | -$30.2M |
| Pre-tax income | — | — | — | -$32.1M | -$51.7M | $1.9M | -$74.4M | -$50.2M | -$40.9M | -$31.0M |
| Income tax | — | — | — | — | $1.8M | — | $2.3M | $0 | $9.4M | $0 |
| Net income | -$293.4M | $1.4M | -$30.0M | -$32.1M | -$49.9M | $1.9M | -$72.2M | -$50.2M | -$31.5M | -$31.0M |
| EPS, basic | -34.67 | 0.19 | -4.61 | -6.01 | -9.35 | 0.05 | -1.85 | — | — | — |
| EPS, diluted | -34.67 | 0.19 | -4.61 | -6.01 | -9.35 | 0.05 | -1.85 | -1.29 | -0.83 | -0.99 |
| Shares, diluted (wtd. avg.) | 8.5M | 7.6M | 6.5M | 5.3M | 5.3M | 40.9M | 39.0M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $82.3M | $21.4M | $40.9M | $36.1M | $60.8M | $25.4M | $21.4M | $50.2M | $26.1M | $83.0M |
| Short-term investments | — | — | — | — | — | — | $24.4M | $37.8M | $102.1M | — |
| Total current assets | $83.1M | $22.3M | $42.0M | $40.2M | $62.2M | $27.4M | $47.1M | $90.0M | $129.5M | $83.9M |
| Property, plant and equipment | $0 | $5.4K | $10.9K | $16.3K | — | — | $16.0K | $33.5K | $50.9K | $9.6K |
| Goodwill | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M |
| Other intangibles | — | — | — | — | — | $15.2M | $15.2M | $34.2M | $34.2M | $34.2M |
| Total assets | $98.0M | $37.1M | $56.9M | $55.1M | $77.1M | $57.6M | $77.5M | $139.1M | $183.7M | $132.9M |
| Accounts payable | $639.7K | $1.6M | $1.8M | $969.7K | $1.9M | $995.6K | $2.3M | $1.8M | $1.4M | $1.5M |
| Total current liabilities | $2.3M | $2.8M | $3.3M | $1.4M | $2.8M | $3.2M | $6.6M | $3.6M | $6.8M | $9.7M |
| Total liabilities | $233.8M | $62.8M | $85.4M | $75.1M | $69.1M | $5.0M | $49.7M | $48.9M | $52.1M | $27.0M |
| Retained earnings | -$688.8M | -$395.4M | -$396.8M | -$366.8M | -$334.7M | -$284.8M | -$286.7M | -$214.6M | -$164.4M | -$132.9M |
| Total equity | -$140.7M | -$25.7M | -$28.5M | -$20.0M | $8.0M | $52.7M | $27.8M | $90.3M | $131.6M | $106.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13.5M | -$19.6M | -$14.8M | -$24.6M | -$24.6M | -$33.8M | -$43.4M | -$41.9M | $3.1M | -$25.7M |
| Depreciation and amortisation | — | — | — | — | — | $16.0K | $17.5K | $17.5K | $11.1K | $16.5K |
| Stock-based compensation | $1.3M | $1.3M | $2.0M | $4.1M | $5.2M | $9.7M | $9.2M | $8.2M | $5.0M | $3.6M |
| Capital expenditure | — | — | — | $16.3K | — | — | — | — | $52.4K | — |
| Investing cash flow | $0 | $0 | $0 | -$16.3K | — | $24.5M | $14.1M | $69.5M | -$107.2M | $17.8M |
| Financing cash flow | $74.5M | — | $19.6M | -$5 | $60.0M | $13.2M | $525.0K | -$3.3M | $47.2M | $76.6M |
| Buybacks | — | — | — | — | — | — | — | — | $389 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-171799.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $0 | $0 | $41.2M | $0 | $0 | $0 | $0 | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$31.0M | -$31.5M | -$50.2M | -$72.2M | $1.9M | -$49.9M | -$32.1M | -$30.0M | $1.4M | -$293.4M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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