Monitor enrollment updates and cash burn rate; next major catalyst is Phase A topline data in 2H 2027. The company has adequate cash runway, but the widening adjusted net loss warrants attention to spending discipline.
Price Chart
Executive Summary
Minerva Neurosciences reported Q2 2026 financial results with a GAAP net income of $17.5M driven by a non-cash warrant liability gain, but an adjusted net loss of $7.8M (vs $3.0M in Q2 2025) reflecting increased Phase 3 trial costs. Cash stood at $75.4M, providing runway into 2028. The confirmatory Phase 3 trial of roluperidone for negative symptoms of schizophrenia is ongoing with topline data expected 2H 2027.
Key Financial Metrics
Key Facts
- GAAP net income of $17.5M for Q2 2026, or $0.36 per basic share, driven by $27.6M non-cash gain on warrant liability
- Adjusted (non-GAAP) net loss of $7.8M, compared to $3.0M in Q2 2025
- Cash, cash equivalents, marketable securities and restricted cash of $75.4M at June 30, 2026, down from $82.4M at Dec 31, 2025
- R&D expense increased to $7.2M from $1.3M due to the confirmatory Phase 3 C19 trial
- Confirmatory Phase 3 trial of roluperidone (MIN-101C19) ongoing; topline efficacy data expected 2H 2027
- Scientific Advisory Board expanded to 11 members
Financial Impact
Adjusted net loss widened by $4.8M YoY to $7.8M; cash burn rate increased due to Phase 3 trial initiation
Risk Factors
- Dilution risk from outstanding warrants and potential future financings
- Clinical trial failure or delay for roluperidone
- Cash burn may accelerate if trial enrollment or duration increases
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-339147 |
| Document: d22348d8k.htm | 0001193125-26-339147 |
| Document: 0001193125-26-339147-index-headers.html | 0001193125-26-339147 |
| Document: 0001193125-26-339147-index.html | 0001193125-26-339147 |
| Document: 0001193125-26-339147.txt | 0001193125-26-339147 |
| 8-K Data (Synthetic) | 0001193125-26-339147 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 12, 2026 10w ago | 8-K | $3.92 | awaiting T+60 | — | $2.20 (−43.88%) |
Aug 7, 2026 11w ago | 8-K | $4.27 | awaiting T+60 | — | $2.20 (−48.48%) |
May 27, 2026 21w ago | 8-K | $5.00 $4.84 | ▲ +3.20% | ▲ +4.93% | $2.20 (+56.00%) |
May 5, 2026 24w ago | 8-K | $6.25 $4.02 | ▼ −35.68% | ▼ −38.42% | $2.20 (−64.80%) |
Apr 23, 2026 26w ago | DEFA14A | $6.83 $4.37 | ▼ −36.02% | ▼ −41.04% | $2.20 (−67.79%) |
Mar 25, 2026 30w ago | Press Release | $6.14 $4.66 | ▼ −24.10% | ▼ −38.05% | $2.20 (−64.17%) |
Mar 20, 2026 31w ago | EFFECT | $7.54 $4.39 | ▼ −41.78% | ▼ −56.20% | $2.20 (−70.82%) |
Mar 11, 2026 32w ago | S-3 | $7.30 $4.68 | ▲ +35.89% | ▲ +47.41% | $2.20 (+69.86%) |
Mar 11, 2026 32w ago | Press Release | $7.30 $4.68 | ▼ −35.89% | ▼ −47.41% | $2.20 (−69.86%) |
US Market Status
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