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Minerva Neurosciences Reports Fourth Quarter and Full Year 2014 Financial Results
MIN-101 Phase 2b trial for schizophrenia on track
Phase 2a trial planned for MIN-202 in primary insomnia in mid-2015;
Phase 1b in MDD patients also expected to begin in mid-2015
Company advancing CNS pipeline with MIN-117 and MIN-301
Management to host conference call today at 4:30 p.m. ET
WALTHAM, Mass. March 26, 2015 Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company focused on the development of innovative therapies to treat central nervous system (CNS) diseases and disorders, today reported business highlights and financial results for the fourth quarter and full year ended December 31, 2014.
We are very pleased to report continued progress for each of our clinical development programs, and are looking forward to several upcoming milestones in 2015 and 2016, commented Dr. Remy Luthringer, president and chief executive officer of Minerva. Following our recent private placement that resulted in net proceeds of approximately $28.8 million, we now have in place additional financial resources to progress toward our goal of building a company with innovative therapeutics that we believe will address the unmet needs of patients across a range of CNS diseases.
Fourth Quarter and Recent Business Highlights:
|||Minerva today announced that it received regulatory approval in Latvia, and ethical committee approvals in Latvia and Estonia, for the Phase 2b study for MIN-101, a serotonin 5-HT2A and sigma2 receptor antagonist for the potential treatment of schizophrenia. The Company submitted an application to run a multi-center, randomized, double-blind, parallel group design study to local authorities in Europe in the fourth quarter of 2014, and enrollment is expected to occur in the last three quarters of 2015. This trial is exploring the effect of two doses of MIN-101 given once daily versus placebo in 234 schizophrenic patients with a history of negative symptoms.|
The following information was filed by Minerva Neurosciences, Inc. (NERV) on Thursday, March 26, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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