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Why Minerva Neurosciences Stock Is Cratering Today

TheMotleyFool

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Why Minerva Neurosciences Stock Is Cratering TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of Minerva Neurosciences (NASDAQ: NERV) dropped by as much as 27.4% in pre-market trading Thursday morning.

What's sending shareholders to the exits? The biotech's stock is cratering this morning in response to a disappointing phase 2b trial readout for the experimental depression medication MIN-117. Minerva was evaluating the drug as a treatment for adults with moderate to severe major depressive disorder (MDD), but it reportedly missed both its primary endpoint and key secondary endpoints.

Image source: Getty Images.

Source Fool.com

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