secwatch.observer — SEC 8-K summary
======================================

Issuer:     Minerva Neurosciences, Inc. (NERV)
CIK:        0001598646
Form:       8-K
Filed at:   2026-03-11T23:59:59+00:00
Accession:  0001193125-26-101074
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1598646/000119312526101074/0001193125-26-101074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1598646/000119312526101074/d825896d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-101074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer