Minerva Neurosciences Announces $20M In Private Placement Priced At A Premium To Market
Portfolio Pulse from Happy Mohamed
Minerva Neurosciences, Inc. (NASDAQ:NERV) has announced a private investment in public equity (PIPE) financing deal worth approximately $20 million. The deal involves the sale of 1,425,000 shares of its common stock at $10 per share and pre-funded warrants to purchase 575,575 shares of its common stock at $9.99 per pre-funded warrant to Boehringer Ingelheim and Federated Hermes Kaufmann Funds. The proceeds will be used to support potential regulatory approval in the U.S., commercialization activities and market launch of roluperidone, a treatment for negative symptoms in schizophrenia.
June 28, 2023 | 12:31 pm
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Minerva Neurosciences' PIPE financing deal could provide the necessary funds for the regulatory approval and market launch of its schizophrenia treatment, potentially boosting its stock in the short term.
The announced PIPE financing deal is a positive development for Minerva Neurosciences as it provides the necessary funds for the regulatory approval and market launch of its schizophrenia treatment. This could potentially lead to increased revenues and profitability for the company, which would likely have a positive impact on its stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100