NERV Stock — Minerva Neurosciences Inc: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company focused on the development and commercialization of certain proprietary product candidates to treat patients suffering from central nervous system (“CNS”) diseases. Our lead product candidate, roluperidone, is in development for the treatment of negative symptoms in patients diagnosed with schizophrenia.

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.42

Market cap

$115.5M

Cash

$77.0M

Enterprise value

$38.5M

Balance sheet

Cash	$77.0M
Debt	$0.0M
Net cash	$77.0M
Enterprise value	$38.5M
Basic shares	49.8M shares
Fully diluted shares	115.5M shares
Fully diluted market cap	$279.6M
Cash per share	$1.54
Quarterly burn	$13.3M
Cash runway	5.6 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

47.7M

Pre-funded warrants

—

Options

13.4M

RSUs

—

Warrants

51.7M

Converts

0.0M

Conv preferred

2.6M

ESPP reserve

—

FDSO

115.5M

Cap table as of 2026-08-04.

Price history

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Next catalyst

Roluperidone · Est. Sep 30, 2027 · half midpoint · guided in 8 mo

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	Roluperidone Phase 3 MIN-101C19 Phase A study in schizophrenia	Phase 3	schizophrenia	H2 2027
Jan 12 - Feb 23 in 14 mo	Roluperidone	Phase 3	Negative Symptoms of Schizophrenia	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Roluperidone

Phase 3 · Active Modality: small molecule

Target 5-HT2A, sigma, α-adrenergic receptors

Partnerships n/a (company holds global commercialization rights except most of Asia)

Indications

Negative symptoms of schizophrenia (Phase 3)

Catalysts

— second half of 2027
— second half of 2028

Status note NDA submitted Aug 2022; FDA issued CRL Feb 2024. Confirmatory Phase 3 (C19) protocol submitted Dec 2025; first patient screened Mar 2026 (380 pts, 64 mg daily vs placebo). Seltorexant co-developed with Janssen was previously opted out; royalty interest sold to Royalty Pharma.

Per-asset detail extracted from the 10-Q filed 2026-08-07. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Roluperidone
Lead indication	Negative Symptoms of Schizophrenia
Lead phase	Phase 3
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07565428	Phase 3	Recruiting	Sponsor	Minerva Neurosciences	—	Negative Symptoms of Schizophrenia	H2 2027 Est. Sep 30, 2027 · half midpoint

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Minerva Neurosciences on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Vivo Capital	4,322,747	no change	2.19%	2026-08-14
Logos Global Management	3,288,777	+73,777	0.79%	2026-08-14
Ally Bridge Group	2,175,802	+520,302	15.56%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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NERV — Minerva Neurosciences Inc ☆