Q2 swung to GAAP profit on warrant revaluation gain
Minerva Neurosciences swung to GAAP net income of $17.5 million in Q2 2026 from a loss a year earlier, driven by a $27.6 million non-cash warrant revaluation gain.
R&D expense more than doubled to $7.2 million, due to C19 trial costs and higher compensation; G&A expense rose 64.8% to $3.5 million.
First-half loss widened as cash declined and trial timeline stayed unchanged
For the first half, GAAP net loss widened to $107.9 million from a smaller loss, reflecting a $81.8 million non-cash warrant revaluation loss.
Cash, cash equivalents, marketable securities, and restricted cash fell to about $75.4 million at June 30 from $82.4 million at year-end 2025.
The confirmatory Phase 3 C19 trial of roluperidone remains on track for topline efficacy data in 2H 2027, with Phase B topline data expected in 2H 2028.
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