(RTTNews) - Minerva Neurosciences, Inc. (NERV) surged 339.33% to trade at $11.73, up $9.06, after announcing a $200 million financing deal with institutional investors to advance its schizophrenia drug candidate, roluperidone.
The agreement provides $80 million upfront, another $80 million through Tranche A warrants, and $40 million via milestone-based Tranche B warrants. The funding will help support a confirmatory Phase 3 trial, NDA resubmission, and potential U.S. commercial launch.
On Tuesday, NERV opened at $3.02, reached a high of $12.15, and a low of $2.97, compared to a previous close of $2.67 on the Nasdaq Capital Market. Trading volume topped 70 million shares, significantly above its average of 0.8 million. The stock's 52-week range is $1.03 - $12.15.
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