Minerva Neurosciences (NERV) investor relations material

Executive summary

• Focused on proprietary CNS therapies, with lead candidate roluperidone for schizophrenia and MIN-301 for Parkinson's disease; no commercialized products or revenue to date.

• FDA issued a Complete Response Letter for roluperidone, requiring a new 52-week confirmatory trial before resubmission, impacting regulatory timelines.

• Strategic alternatives are under review due to cash constraints and regulatory requirements.

• Accumulated deficit reached $402.4 million as of June 30, 2025; net loss for the six months ended June 30, 2025 was $7.0 million, improved from $16.8 million year-over-year.

Financial highlights

• Cash, cash equivalents, and restricted cash totaled $15.3 million as of June 30, 2025, down from $21.5 million at year-end 2024.

• Net loss for Q2 2025 was $3.3 million ($0.43/share), improved from $6.3 million ($1.09/share) in Q2 2024.

• Research and development expenses decreased to $1.3 million in Q2 2025 from $3.9 million in Q2 2024; six-month R&D was $2.7 million vs $8.0 million prior year.

• General and administrative expenses fell to $2.1 million in Q2 2025 from $2.4 million in Q2 2024; six-month G&A was $4.6 million vs $4.9 million prior year.

• No revenue generated from product sales or licenses; all income derived from investment and royalty arrangements.

Outlook and guidance

• Existing cash is not sufficient to fund operations and capital requirements beyond the next twelve months; cost reduction initiatives are underway.

• Additional capital will be required to advance clinical programs and support operations; strategic alternatives, including partnerships or transactions, are under review.

• Uncertainty remains regarding the timing and outcome of the required confirmatory trial for roluperidone and future regulatory approvals.