Minerva Neurosciences, Inc. (NASDAQ: NERV) rose after the company announced results from the 40-week open-label extension of its phase 3 trial of roluperidone for the treatment of negative symptoms of schizophrenia.
The company announced Continuous improvement in negative symptoms as measured by Positive and Negative Syndrome Scale (PANSS) Marder Negative Symptom Factor Score (NSFS) observed over one year (12-week double-blind and 40-week open-label periods) in patients receiving both 64 mg and 32 mg doses.
It also saw continuous improvement in Personal and Social Performance (PSP) total score over one year, suggesting improvement in patients’ everyday life functioning.
"The results of the open-label extension of the phase 3 trial with roluperidone provide additional support for the continued development of this agent, particularly in an environment with a continuing significant unmet medical need for schizophrenia treatments with novel mechanisms of action," said Dr. Remy Luthringer, Executive Chairman and Chief Executive Officer of Minerva.
Moreover, the company sustained a net loss of $8.8 million for the first quarter of 2021, or a loss per share of $0.21 (basic and diluted), compared to a net loss of $12.2 million for the first quarter of 2020, or a loss per share of $0.31 (basic and diluted).
Research and development expenses were $3.3 million and $8.1 million for the three months ended March 31, 2021 and 2020, respectively, a decrease of approximately $4.8 million.
NERV shares surged 54 cents, or 24.1%, to $2.77.
Related Stories
