Why Minerva Neurosciences Is Trading Higher

After the close, Minerva Neurosciences Inc NERV reported positive Phase 1 data with MIN-202 for treatment of sleep disorders, including primary Comorbid Insomnia.

The three trials conducted were:

1. MIN-202 Phase 1b Study in MDD Patients

2. MIN-202 Phase 1 Multiple Ascending Dose Study in Healthy Volunteers

3. MIN-202 Phase 1 Bio-Availability Study

The studies showed that MIN-202 was well-tolerated in patients, and supports a move to the next stage in clinical development.

The three Phase 1 trials were conducted by Janssen Research and Development, a subsidiary of Johnson and Johnson JNJ.

Minerva CEO Remy Luthringer shared his thoughts: "Treatment of sleep disorders remains a significant challenge in patients with both primary insomnia and many CNS diseases. These positive data indicate that MIN-202 could be an effective treatment able to both induce and maintain sleep. With these findings we have identified a dose range to advance this compound."

The news comes after Minerva announced a $15 million debt facility with Oxford Finance and Silicon Valley Bank to advance the clinical program for MIN-101 for schizophrenia.

On January 5, the company also announced positive data for MIN-301 for Parkinson's in primates.