Minerva gains on schizophrenia, depression data

Minerva Neurosciences Inc. (NASDAQ:NERV) soared $8.26 (233%) to an all-time high close of $11.80 on Thursday after it said two candidates met the primary endpoints in Phase II studies to treat psychiatric disorders. The company's market cap rose to $329.7 million from $98.9 million at Wednesday's close.

Minerva said MIN-101 significantly improved negative schizophrenia symptoms on a five-factor Positive and Negative Syndrome Scale (PANSS) model vs. placebo (p≤0.022 for a 32 mg dose and p≤0.003 for a 64 mg dose), meeting the primary endpoint of a 12-week, 244-patient Phase IIb study. Next quarter, the company expects to complete a 24-week extension study of the serotonin (5-HT2A) and sigma-2 receptor antagonist. ...