Minerva Neurosciences (NASDAQ:NERV) and its investors did not have the Monday blues as the company’s stock soared greatly during the day following the announcement that one of its products designed to treat insomnia had a successful run in the business’ latest clinical trial.
The Waltham, Mass.-based biopharmaceutical company unveiled the results of the trial of Seltorexant, which was created to treat insomnia, and the trial achieved its primary and key secondary goals. The trial in question was in Phase 2b, and the results saw the drug reaching its primary endpoint of latency to persistent sleep, also known as LPS, at Night 1 in 10 mg and 20 mg doses of the medication.
The Minerva Neurosciences product also met its key secondary endpoint, which it defined as wake after sleep onset over first six hours at Night 1. These beneficial effects were maintained over time and were consistent in both adults and elderly patients, the company said.
“The findings from this study demonstrate that seltorexant significantly improves sleep induction and prolongs sleep duration,” said Professor Thomas Roth, who has the title of Director of the Sleep Disorders and Research Center at Henry Ford Hospital. “The results also demonstrate that seltorexant showed a significantly greater improvement in these sleep parameters compared to zolpidem.”
The study included 365 patients with a mean age of 57.8, and they were between the ages of 22 and 84.
NERV stock is skyrocketing 40.4% on Monday.
