Minerva Neurosciences rises as FDA accepts marketing application for schizophrenia drug

Minerva Neurosciences

10/05/2023 13:53

** Shares of drug developer Minerva Neurosciences Inc
 NERV.O  rise ~9% to $7.42 premarket
    ** Co says the U.S. FDA accepted marketing application for
its experimental drug, roluperidone, to treat negative symptoms
of schizophrenia 
    ** FDA to review the application by Feb. 26, 2024
    ** Co says the FDA advised that it identified potential
review issues that had been previously cited in the agency's
refuse-to-file decision letter
    ** In October 2022, the FDA had refused to accept NERV's
previous application, saying it did not meet the compliance
needs of the health regulator
    ** Schizophrenia is a chronic mental illness characterized
by distortions in thinking, emotions, language and behavior
    ** As of last close, NERV shares had risen more than 300%
this year

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))