Minerva Neurosciences surges on $20 mln premium equity raise

Minerva Neurosciences

28/06/2023 13:57

** Minerva Neurosciences Inc's  NERV.O  shares surge ~35% to
$8.14 premarket as co raises equity at a premium
    ** Co says sold ~1.4 mln shares at $10 and 575,575
pre-funded warrants to Boehringer Ingelheim and Federated Hermes
Kaufmann Funds in $20 mln private investment in public equity
(PIPE)
    ** NERV closed at $6.02 on Tues
    ** Co plans to use PIPE proceeds to support potential U.S.
regulatory approval/commercialization activities and launch of
roluperidone, its drug developed for treatment of negative
symptoms in schizophrenia
    ** Co has ~5.57 mln shares outstanding and ~5.28 mln shares
of public float, per Refinitiv data
    ** Through Tues close, NERV has gained 276% this quarter

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))