BURLINGTON, Mass., Sept. 09, 2022 (GLOBE NEWSWIRE) — Minerva Neurosciences, Inc. (Nasdaq: NERV), a clinical-stage biopharmaceutical firm centered on the event of therapies to deal with central nervous system (CNS) problems, right now reported an inventory switch from The Nasdaq Global Market to The Nasdaq Capital Market.
The Company introduced right now that it obtained affirmation from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) that the Company’s software to switch its widespread inventory from The Nasdaq Global Market to The Nasdaq Capital Market, as allowed underneath Listing Rule 5810(c)(3)(A), had been permitted.
The Company’s widespread inventory will start buying and selling on The Nasdaq Capital Market efficient at the beginning of buying and selling on September 12, 2022. The Company’s widespread inventory will proceed to commerce underneath the image “NERV” and buying and selling of its widespread inventory might be unaffected by this switch. The Nasdaq Capital Market is a steady buying and selling market that operates in considerably the identical method as The Nasdaq Global Market. All firms listed on The Nasdaq Capital Market should meet sure monetary necessities and cling to Nasdaq’s company governance requirements. Upon switch to The Nasdaq Capital Market, the Company will meet all the continued itemizing standards of The Nasdaq Capital Market.
As beforehand disclosed, on March 8, 2022, the Company obtained a discover from the Listing Qualifications Department of Nasdaq indicating that the Company was not in compliance with the minimal web fairness requirement of $10.0 million underneath the Nasdaq Listing Rules. The Company was granted a 180-day compliance interval to regain compliance with the online fairness requirement.
Nasdaq’s determination to approve the Company’s software to switch to The Nasdaq Capital Market was based mostly on the Company assembly the itemizing necessities of The Nasdaq Capital Market.
About Minerva Neurosciences
Minerva Neurosciences, Inc. (Nasdaq: NERV) is a clinical-stage biopharmaceutical firm centered on creating product candidates to deal with central nervous system (CNS) ailments. Our purpose is to rework the lives of sufferers with improved therapeutic choices. Minerva’s portfolio of compounds consists of roluperidone (MIN-101), in medical improvement for adverse signs of schizophrenia, and MIN-301 for Parkinson’s illness. For extra info, please go to our web site.
Forward-Looking Safe Harbor Statement
This press launch comprises forward-looking statements that are topic to the secure harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that aren’t historic info, replicate administration’s expectations as of the date of this press launch, and contain sure dangers and uncertainties. Forward-looking statements embody, however not restricted to, statements herein relating to the anticipated impression of the switch of the itemizing of the Company’s widespread inventory to The Nasdaq Capital Market. These forward-looking statements are based mostly on our present expectations and will differ materially from precise outcomes due to quite a lot of components together with, with out limitation, market response to the switch of the itemizing of the Company’s widespread inventory to The Nasdaq Capital Market; whether or not and when, if in any respect, the Company’s NDA for roluperidone, if efficiently submitted, might be permitted by the U.S. Food and Drug Administration; whether or not roluperidone might be efficiently marketed if permitted; administration’s skill to efficiently obtain its targets; our skill to increase extra capital to fund our operations on phrases acceptable to us; and normal financial situations. Other components which will trigger our precise outcomes to differ from these expressed or implied within the forward-looking statements on this press launch are recognized underneath the caption “Risk Factors” in our filings with the Securities and Exchange Commission, together with our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the Securities and Exchange Commission on August 9, 2022. Copies of stories filed with the SEC are posted on our web site at www.minervaneurosciences.com. The forward-looking statements on this press launch are based mostly on info obtainable to us as of the date hereof, and we expressly disclaim any obligation to replace any forward-looking statements, besides as required by regulation.
For extra info:
Investor inquiries:
Fred Ahlholm
CFO, Minerva Neurosciences
data@minervaneurosciences.com
Media inquiries:
Helen Shik
Principal, Shik Communications LLC
helen@shikcommunications.com