Minerva Neurosciences (NASDAQ:NERV) is seeing NERV stock nosedive on Friday after announcing results from a recent schizophrenia study.
A Minerva Neurosciences news release reveals that results from a Phase 3 study didn’t turn out like it was hoping they would. The study found no statistically significant difference between the company’s 32mg or 64mg doses of roluperidone when compared to a placebo after 12 weeks.
This saw the company missing both the primary and secondary endpoints of the study. These results were found after testing the treatment in 515 patients. That included 172 patients on the placebo, 172 patients taking the 32mg dose, and 171 patients taking the 64mg dose.
While the results weren’t what the company was hoping for, it does note that roluperidone was well received by patients. Only 42 patients ended up leaving the study due to adverse events.
Dr. Remy Luthringer, executive chairman and CEO of Minerva Neurosciences, said this about the study results.
“Even though this study didn’t achieve its primary and key secondary endpoints, primarily due to a larger than expected placebo effect at Week 12, results obtained with the 64 mg dose including the early onset of effect and functional improvement as measured by PSP suggest roluperidone merits continued investigation for the treatment of primary negative symptoms.”
Minerva Neurosciences plans to provide additional details about the study during a webcast. This is set to take place on June 1 at 8:30 a.m.
NERV stock was down 72.1% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.