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Here is why Minerva Neurosciences Inc (NERV) stock rallied in the after-market on Tuesday.

FEDU Stock

FEDU Stock

Minerva Neurosciences Inc (NERV) stock started the Tuesday, May 11, 2021, by losing 2.62% to close the normal trading session at $2.23 per share. in the after-market session, NERV shares surged 38.57% to close at $3.09 per share.

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NERV shares have plunged 82.23% over the last 12 months, and they have moved down 3.88% in the past week. Over the past three months, the stock has lost 36.10%, while over the past six months, it has shed 35.36%.


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Let’s see is there any reason behind its exceptional surge in the after-hours on Tuesday.

Phase 3 trial results of Roluperidone 

On May 11, 2021, Minerva Neurosciences Inc. announced the results of its phase 3 trial ofroluperidone, from the 40-week open-label extension (OLE).

Roluperidoneis trialed for the treatment of negative symptoms (NS) of schizophrenia.

Over the 40-week OLE period, 333 patients participated, of whom 166 patients received the 32 mg dose and 167 patients received the 64 mg dose.

The mean improvement in negative symptoms was observed in all patients.

Upcoming Q1 2021 financial results announcement

Minerva Neurosciences Inc is going to announce its first-quarter 2021 results on Wednesday, May 12, 2021. The Company will host a webcast and conference call that day at 8:30 a.m. Eastern Time to discuss these results and other updates.

Latest financial result announcement

On March 08, 2021, Minerva Neurosciences Inc. reported financial results for the fourth quarter and fiscal year ended December 31, 2020.

Q4 2020 financial highlights

FY2020 financial highlights

Conclusion

The phase 3 trial results announcement was the reason behind its rally in the after-market session on Tuesday and we are hopeful that NERV will continue its positive momentum on Wednesday as well, after the financial results announcement.

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