Minerva (NERV) Q4 non-GAAP adj loss $7.1M; cash $82.4M; Phase 3 roluperidone on track for Q2 2026

Minerva Neurosciences, Inc.

Non-GAAP adjusted net loss for Q4 2025 was $7.1M ($0.64/sh) vs $4.0M ($0.53/sh) in Q4 2024.
GAAP net loss for Q4 2025 was $283.7M ($25.51/sh), driven by $321.5M non-cash preferred stock and warrant issuance expense.
Cash, cash equivalents and restricted cash at Dec 31, 2025: $82.4M, up from $21.5M at Dec 31, 2024, from $80M private placement.
Phase 3 confirmatory trial of roluperidone for negative symptoms of schizophrenia on track for Q2 2026; topline data expected 2H 2027.
R&D expense for Q4 2025 was $2.2M vs $2.0M for Q4 2024, reflecting higher consultant fees.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Minerva Neurosciences, Inc. reported financial results for the fourth quarter and year ended December 31, 2025.

Period: the fourth quarter and year ended December 31, 2025
Result: reported results

Exact text from the filing

Minerva Neurosciences, Inc. (Nasdaq: NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system (CNS) disorders, today provided business updates and reported financial results for the fourth quarter and year ended December 31, 2025.

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Source: SEC EDGAR

accession 0001193125-26-101074

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