Benzinga | May 12, 2021 06:59AM EDT

Minerva Shares Surge As Schizophrenia Candidate Shows Long Term Improvement In Negative Symptoms, Functioning

* Minerva Neurosciences Inc (NASDAQ: NERV) has announced results from the 40-week open-label extension (OLE) of its Phase 3 trial evaluating roluperidone for the treatment of negative symptoms (NS) of schizophrenia.

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

* The mean improvement in negative symptoms was 6.8 points in the 32 mg arm and 7.5 points in the 64 mg arm.

* Personal and Social Performance (PSP) score improved by a mean of 12.3 points in the 32 mg arm and 14.5 points in the 64 mg arm.

* The mean improvement in positive symptoms was 1.9 points in the 32 mg arm and 1.8 points in the 64 mg arm.

* Reduced emotional experience had a mean improvement of 2.8 points in the 32 mg group and 3.0 points in the 64 mg group.

* The relapse rate during the OLE was 15/166 patients (9%) in the 32 mg arm and 10/167 (6%) in the 64 mg arm. Over the one-year duration, the relapse rate was 11.7% overall.

* Roluperidone at both doses was safe and well-tolerated, and treatment-emergent adverse events were generally mild to moderate in severity.

* Minerva will discuss these results during its Q1 2021 conference call and webcast today at 8:30 a.m. ET.

* Price Action: NERV shares are trading 29.1% higher at $2.88 during the premarket session on the last check Wednesday.