Minerva Neurosciences, Inc. reported a net loss of $2.7 million for the third quarter of 2025, a significant decline from the net income of $22.5 million recorded in the same period of 2024. For the nine months ending September 30, 2025, the company experienced a net loss of $9.8 million, compared to a net income of $5.7 million for the corresponding period in the previous year. The decrease in profitability is attributed to a lack of revenue generation, as the company has not yet commercialized any of its product candidates, and a substantial drop in other income, which was $26.6 million in 2024 due to adjustments related to the sale of future royalties.
Total expenses for the third quarter of 2025 were approximately $2.8 million, down from $4.4 million in the same quarter of 2024. This reduction was primarily driven by lower research and development costs, which decreased from $1.9 million to $0.9 million, and a decline in general and administrative expenses from $2.5 million to $1.9 million. The company reported a decrease in cash and cash equivalents, totaling $12.3 million as of September 30, 2025, down from $21.4 million at the end of 2024.
In terms of strategic developments, Minerva has been actively preparing for a confirmatory Phase 3 clinical trial for its lead product candidate, roluperidone, aimed at treating negative symptoms in schizophrenia. Following a Complete Response Letter from the FDA in February 2024, the company has engaged in discussions with the agency to outline the requirements for resubmitting its New Drug Application (NDA). The FDA has confirmed that the trial will include a 64 mg dose of roluperidone and will assess efficacy based on specific clinical endpoints.
On October 23, 2025, Minerva completed a private placement of preferred stock and warrants, raising up to $200 million in gross proceeds. This funding is intended to support the Phase 3 trial of roluperidone, the preparation for NDA resubmission, and general corporate purposes. The company anticipates that the net proceeds from this placement will be sufficient to meet its operational commitments for at least the next twelve months. As of September 30, 2025, Minerva had an accumulated deficit of approximately $405.1 million, reflecting its ongoing investment in research and development without any commercial revenue to date.
About Minerva Neurosciences, Inc.
Minerva Neurosciences is a clinical-stage biopharmaceutical company focused on developing proprietary therapies for central nervous system disorders. Its key products include roluperidone for negative symptoms in schizophrenia, and in-licensed compounds like MIN-301 for Parkinson’s disease and seltorexant for insomnia and depression. The company targets high unmet medical needs globally, leveraging innovative mechanisms, clinical data, and strategic collaborations to advance novel CNS treatments.
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