Minerva Neurosciences Prices Public Offering of Common Stock

Minerva Neurosciences said Thursday it has priced an underwritten public offering of 5 million shares of its common stock at a price to the public of $7.75 per share. Proceeds to Minerva from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $38.75 million. The offering is expected to close on or about July 5, subject to customary closing conditions.

Minerva intends to use the net proceeds from the offering, together with its existing cash and investments, to fund part of the continued clinical development of MIN-101, MIN-202, MIN-117 and MIN-301, and for working capital and general corporate purposes.

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