Minerva Neurosciences (NASDAQ: NERV) is a clinical-stage biopharmaceutical company focused on developing drug candidates targeting neurological and psychiatric conditions. The company has no approved products generating commercial revenue as of the 10-K filed March 11, 2026, and funds operations through capital raises rather than product sales. Minerva's common stock traded on the Nasdaq Global Market under the symbol NERV from its IPO on July 1, 2014, before transferring to The Nasdaq Capital Market effective September 12, 2022. The company has a prior co-development and license relationship with Janssen Pharmaceutica NV, which was settled as of June 24, 2020. Research and development expenses, which include fees to clinical research organizations, investigator grants, regulatory compliance, and employee costs, constitute the primary use of cash. The company has disclosed it will need to raise additional capital or seek product collaborations to complete development and commercialization of its product candidates. As of March 6, 2026, there were approximately 51 holders of record of common stock.

Revenue model

The filing excerpts do not describe any product revenue or commercial revenue streams. Minerva is pre-revenue and relies on capital raises and potential future product collaborations for funding.

Products and services

The filing references unspecified product candidates in development targeting neurological and psychiatric conditions. No approved products are disclosed in the excerpts provided.

Customers and end markets

The filing excerpts do not identify specific customers or commercial end markets. The company references potential future participation in Medicare, Medicaid, and third-party payor reimbursement frameworks, indicating an eventual target of the healthcare reimbursement market.

Value-chain role

Clinical-stage drug developer. The company outsources manufacturing-related activities, including a commercial supply agreement with Catalent Germany Schorndorf GmbH (dated September 18, 2019), and engages third-party clinical research organizations for trial execution.

Geographic exposure

The filing references operations subject to EEA and UK data transfer regulations, suggesting some European operational presence, consistent with employment agreements structured through Mind-NRG SARL. Primary incorporation and exchange listing are in the United States.

Source: SEC 10-K, filed 2026-03-11

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