On or around 12/08/2020 (Date of last review)
Filing Date: December 08, 2020
According to the Complaint, Minerva Neurosciences, Inc. purports to be a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous diseases. The Company’s lead product candidate is roluperidone, in development for the treatment of negative symptoms in patients with schizophrenia.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the truth about the feedback received from the FDA concerning the “end-of-Phase 2” meeting; (ii) the Phase 2b study did not use the commercial formulation of roluperidone and was conducted solely outside of the United States; (iii) 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; (iv) 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; (v) 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 (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Company & Securities Information
Defendant: Minerva Neurosciences, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: NERV
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Nathan McCoy, et al. v. Minerva Neurosciences, Inc., et al.
COURT: D. Massachusetts
DOCKET #: 20-CV-12176
JUDGE: Hon. George A. OToole, Jr
DATE FILED: 12/08/2020
CLASS PERIOD START: 05/15/2017
CLASS PERIOD END: 11/30/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Block & Leviton LLP (Boston)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violation of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available