A lawsuit was filed on behalf of investors in Minerva Neurosciences, Inc. (NASDAQ:NERV) shares over alleged securities laws violations.
This press release was orginally distributed by SBWire
San Diego, CA — (SBWIRE) — 01/05/2021 — An investor, who purchased NASDAQ: NERV shares, filed a lawsuit against Minerva Neurosciences, Inc. over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Minerva Neurosciences, Inc. (NASDAQ: NERV) have certain options and for certain investors are short and strict deadlines running. Deadline: February 8, 2021. NASDAQ: NERV investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
Waltham, MA based Minerva Neurosciences, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases.
On May 29, 202, Minerva Neurosciences, Inc. announced the results of its Phase III clinical trial for the use of roluperidone to treat negative symptoms in schizophrenia. The Phase III study failed to show statistically significant differences from placebo on both the primary and key secondary endpoints.
Shares of Minerva Neurosciences, Inc. (NASDAQ: NERV) declined from $14.70 per share on May 26, 2020, to as low as $1.81 per share on May 29, 2020.
On December 1, 2020, Minerva Neurosciences, Inc. announced the results of its meeting with the U.S. Food and Drug Administration concerning Minerva’s attempt to submit a New Drug Application for roluperidone, to treat negative symptoms in schizophrenia. The FDA advised that an NDA submission based on Minerva Neurosciences, Inc’s current data from two studies “would be highly unlikely to be filed” and that doing so would present “substantial review issues due to the lack of two adequate and well-controlled trials to support efficacy claims.”
Shares of Minerva Neurosciences, Inc. (NASDAQ: NERV) declined from $4.115 per share on November 27, 2020, to as low as $2.51 per share on December 4, 2020.
The plaintiff claims that between May 15, 2017 and November 30, 2020, Minerva Neurosciences, Inc. made materially false and/or misleading statements and/or failed to disclose that the truth about the feedback received from the FDA concerning the “end-of-Phase 2” meeting, that the Phase 2b study did not use the commercial formulation of roluperidone and was conducted solely outside of the United States, that the failure of the Phase 3 study to meet its primary and key secondary endpoints rendered that study incapable of supporting substantial evidence of effectiveness, that the Company’s plan to use the combination of the Phase 2b and Phase 3 studies would be “highly unlikely” to support the submission of an NDA, that reliance on these two trials in the submission of an NDA would lead to “substantial review issues” because the trials were inadequate and not well-controlled, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Those who purchased shares of Minerva Neurosciences, Inc. (NASDAQ: NERV) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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