Minerva Neurosciences ( (NERV) ) has released its Q4 earnings. Here is a breakdown of the information Minerva Neurosciences presented to its investors.
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company dedicated to developing therapies for central nervous system disorders, with a focus on innovative treatments for conditions such as schizophrenia and Parkinson’s disease.
In its latest earnings report for the fourth quarter and fiscal year 2024, Minerva Neurosciences highlighted ongoing interactions with the U.S. Food and Drug Administration (FDA) regarding its New Drug Application for roluperidone, aimed at treating negative symptoms in schizophrenia patients. Despite the challenges, the company reported a notable improvement in its financial performance compared to the previous year.
Key financial metrics revealed a decrease in research and development expenses, which fell to $11.9 million for the year, down from $12.7 million in 2023, primarily due to reduced costs associated with FDA reviews and compensation. General and administrative expenses also saw a slight decline, while non-cash interest expenses related to future royalties significantly decreased. The company achieved a net income of $1.4 million for 2024, a substantial turnaround from the $30 million net loss in 2023, largely due to adjustments in liabilities related to the sale of future royalties.
Looking ahead, Minerva Neurosciences remains focused on addressing the FDA’s feedback and advancing its clinical development plans. The company aims to enhance its financial stability and continue its mission to provide improved therapeutic options for patients with central nervous system disorders.
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