Minerva Neurosciences Announces Recent Exercise of Warrants by Institutional Stockholders and Open Market Purchase of Common ...
March 21 2017 - 4:10PM
Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage
biopharmaceutical company focused on the development of innovative
therapies to treat unmet medical needs of central nervous system
(CNS) disorders, today announced the recent exercise of warrants
held by certain institutional stockholders in connection with a
private placement that took place in March 2015, as well as a
purchase of common stock completed on the open market by the
chairman of Minerva’s board of directors.
Since December 31, 2016, warrants with respect to a total of
1,621,073 shares have been exercised by such stockholders at an
exercise price of $5.772 per share. As a result, the Company
has received approximately $9.4 million in proceeds since December
31, 2016. The warrants issued in connection with the private
placement expired on March 20, 2017.
Separately, 50,000 shares of Minerva common stock have been
purchased by Marc Beer, chairman of the board of directors of
Minerva. These purchases took place in multiple transactions
at prices ranging from $7.65 to $8.45 and have been reflected in a
Form 4 filing with the Securities and Exchange Commission on March
21, 2017.
About Minerva Neurosciences
Minerva Neurosciences, Inc. is a clinical-stage
biopharmaceutical company focused on the development and
commercialization of a portfolio of product candidates to treat CNS
diseases. Minerva’s proprietary compounds include: MIN-101,
in clinical development for schizophrenia; MIN-117, in clinical
development for major depressive disorder (MDD); MIN-202
(JNJ-42847922), in clinical development for insomnia and MDD; and
MIN-301, in pre-clinical development for Parkinson’s disease.
Minerva’s common stock is listed on the NASDAQ Global Market under
the symbol “NERV.” For more information, please visit
www.minervaneurosciences.com.
Contact:
William B. Boni
VP, Investor Relations/
Corp. Communications
Minerva Neurosciences, Inc.
(617) 600-7376
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