Minerva Shares Soar on $200 Million Financing for Schizophrenia Drug Trial

By Dean Seal

Shares of Minerva Neurosciences surged more than fourfold after the company said it has secured up to $200 million in financing to advance an investigational schizophrenia treatment through a phase 3 trial.

The stock touched a high of $12.46, brushing a penny below its two-year high, in early trading, after closing Monday at $2.66. Shares had pulled back to $9.90 two hours into the morning session.

The biopharmaceutical company said before the opening bell that it has entered into an agreement with institutional investors that will provide up to $200 million in gross proceeds through a private placement.

The financing includes an initial upfront funding of $80 million in exchange for preferred stock, up to an additional $80 million from the exercise of Tranche A warrants and up to an additional $40 million from the exercise of Tranche B warrants.

In conjunction with the financing, which is expected to close on Friday, Minerva will increase the size of its board with the appointment of three new directors, who are expected to have significant schizophrenia clinical trial experience. The new directors will support clinical operations management and a confirmatory Phase 3 trial of roluperidone for the treatment of negative symptoms in patients with schizophrenia.

The private-placement funding will be used to finance an upsized trial and for the preparation and resubmission of a new drug application with federal regulators. If approved, the funding will also be used to prepare a commercial launch of roluperidone in the U.S., Minerva said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 21, 2025 11:58 ET (15:58 GMT)