Minerva raises $50M in follow-on

Minerva Neurosciences Inc. (NASDAQ:NERV) raised $50 million through the sale of 5.3 million shares at $9.50 in a follow-on underwritten by Jefferies and JMP Securities. Minerva proposed the offering late Monday, when its share price was $10.14.

On May 26, Minerva soared 233% to $11.80 after its MIN-101 met the primary endpoint in a Phase IIb study to treat schizophrenia, and its MIN-117 met the primary endpoint in a Phase IIa trial to treat major depressive disorder (see BioCentury Extra, May 26). ...