Minerva Surges On Positive Results On Depression Candidate

Shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) soared 233.3% after the company announced positive top-line results from a phase IIa trial on antidepressant drug candidate, MIN-117.

The candidate is being evaluated for major depressive disorder (MDD). The objective of the trial is to test efficacy, safety and tolerability of MIN-117 over six weeks of treatment. The randomized double-blind trial (n=84) tested two daily administered doses of MIN-117: 0.5 mg and 2.5 mg, in moderate to severe MDD patients in four European countries.

The results of the trial showed dose-dependent superiority of MIN-117 over placebo as measured by a change in the Montgomery-Asberg Depression Rating Scale (MADRS). The results of the trial also demonstrated that MIN-117 at the 0.5 milligrams (mg) daily dose had an effect size (magnitude of difference) as compared to the placebo group of 0.23, while the 2.5 mg daily dose had an effect size of 0.33. Consequently, MIN-117 met both the primary and secondary endpoints.

The candidate showed a favourable safety and tolerability profile.

Per the World Health Organization, MDD is the leading cause of disability worldwide and a significant contributor to the overall global disease burden, thereby emphasizing the need for therapies to treat it.

The successful results of the trial bode well for Minerva Neurosciences which does not have any approved products in its portfolio. Other candidates in the company’s pipeline include MIN-101, (currently in phase IIb for schizophrenia); MIN-202 (insomnia and the adjunctive MDD) among others.

We note that MIN-202 is being developed by Minerva in collaboration with Janssen Pharmaceutical NV, a Johnson & Johnson (NYSE:JNJ) undertaking.

Minerva Neurosciences presently carries a Zacks Rank #2 (Buy). A couple of other well-placed stocks in the health care sector are Pfizer Inc. (NYSE:PFE) and Bristol-Myers Squibb Company (NYSE:BMY) . Both companies sport a Zacks Rank #1 (Strong Buy).