Minerva Neurosciences, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Minerva Neurosciences, Inc. (“Minerva” or the “Company”) (NASDAQ: NERV) securities during the period from May 15, 2017 through November 30, 2020 (the “Class Period”). Investors have until February 8, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On December 1, 2020, Minerva announced the results of its meeting with the U.S. Food and Drug Administration concerning Minerva's attempt to submit a New Drug Application for roluperidone, to treat negative symptoms in schizophrenia. The FDA advised that an NDA submission based on Minerva's current data from two studies “would be highly unlikely to be filed” and that doing so would present “substantial review issues due to the lack of two adequate and well-controlled trials to support efficacy claims.” On this news, Minerva’s stock price fell $1.00 per share, or approximately 26%, to close at $2.89 per share on December 1, 2020.
This most recent development follows Minerva’s May 29, 2020 announcement of the results of its Phase III clinical trial for the use of roluperidone to treat negative symptoms in schizophrenia. The Phase III study failed to show statistically significant differences from placebo on both the primary and key secondary endpoints. On this news, the Company’s stock price fell $9.76 per share, or approximately 72.5%, to close at $3.71 per share on May 29, 2020.
If you acquired Minerva securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.