Minerva Neurosciences Q1 2024 GAAP EPS $(1.13) Beats $(1.20) Estimate; Cash, Cash Equivalents And Restricted Cash Of $34.9M
Portfolio Pulse from Benzinga Newsdesk
Minerva Neurosciences (NASDAQ:NERV) reported Q1 2024 GAAP EPS of $(1.13), surpassing the $(1.20) estimate, marking a 13.74% improvement from last year's $(1.31) per share. The company also reported having $34.9M in cash and equivalents.
May 01, 2024 | 12:16 pm
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Minerva Neurosciences reported a smaller than expected quarterly loss and an improvement over last year's performance, with cash reserves of $34.9M.
Beating EPS estimates typically has a positive impact on investor sentiment, suggesting a potential short-term price increase. The improvement over last year's losses and the solid cash position further strengthen the company's financial outlook, likely boosting investor confidence.
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