Quarterly ResultMay 5, 2026, 08:16 AM
Minerva Neurosciences Q1 Net Loss $125.4M; Initiates Roluperidone Phase 3 Trial
AI Summary
Minerva Neurosciences reported a GAAP net loss of $125.4 million, or $2.86 per share, for Q1 2026, significantly wider than the $3.8 million loss in Q1 2025, primarily due to a $109.4 million non-cash expense from warrant liability changes. The company initiated its global confirmatory Phase 3 clinical trial for roluperidone to treat negative symptoms of schizophrenia, with the first patient screened in March 2026 and topline efficacy data expected in 2H 2027. R&D expenses increased to $5.3 million, and G&A expenses rose to $11.4 million, including a one-time $6.6 million stock compensation charge. Minerva also announced a leadership change with Jim O’Connor appointed as Chief Business Officer and General Counsel.
Key Highlights
- Initiated global confirmatory Phase 3 trial for roluperidone for negative symptoms of schizophrenia.
- First patient screened in March 2026; topline efficacy data expected 2H 2027.
- GAAP Net Loss for Q1 2026 was $125.4 million, or $2.86 per basic and diluted share.
- Non-GAAP Adjusted Net Loss was $7.3 million, or $0.17 per basic and diluted share.
- R&D expenses increased to $5.3 million from $1.4 million in prior-year period.
- G&A expenses rose to $11.4 million, including $8.0 million non-cash stock compensation.
- Recorded $109.4 million non-cash expense for changes in fair value of warrant liability.
- Cash, cash equivalents, and marketable securities totaled $78.2 million as of March 31, 2026.