Here's Why Minerva Neurosciences Collapsed Today
Shares of Minerva Neurosciences (NASDAQ: NERV) fell by as much as 86% Friday after the company reported disappointing late-stage results for its lead drug candidate. In a phase 3 trial, roluperidone proved statistically no better than a placebo in treating negative symptoms of schizophrenia. The drug candidate failed to meet both the primary and secondary endpoints of the study.
Minerva Neurosciences has three candidates in its pipeline, although only roluperidone and seltorexant have advanced to clinical trials. The outcome of this study is devastating for the development-stage company, although there's an outside chance that roluperidone's prospects can be salvaged. The small-cap stock closed the trading day down 72.5%.
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Source Fool.com