Why Minerva Neurosciences Stock Is Shooting Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
Minerva Neurosciences, Inc (NASDAQ:NERV) has received a $20 million investment from Boehringer Ingelheim and Federated Hermes Kaufmann Funds via a private placement of its shares. The company plans to use the proceeds to support potential regulatory approval and market launch of roluperidone, a drug being developed to treat negative symptoms of schizophrenia. The private placement is expected to close on June 30, 2023.
June 28, 2023 | 2:49 pm
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Minerva Neurosciences has received a significant investment which will be used to support the regulatory approval and market launch of a new drug. This has led to a surge in the company's stock.
The $20 million investment in Minerva Neurosciences is a significant financial boost for the company. This will support the regulatory approval and market launch of roluperidone, a drug being developed to treat negative symptoms of schizophrenia. As a result, investor confidence in the company has increased, leading to a surge in the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100