Shares of Minerva Neurosciences Inc. (NASDAQ: NERV) rocketed before the opening bell Monday after the biopharmaceutical company announced that results of a clinical trial of Seltorexant in patients with insomnia disorder demonstrated met its primary and key secondary goals.
Massachusetts-based Minerva said the Phase 2b clinical trial of Seltorexant demonstrated highly statistically significant and clinically meaningful improvement on latency to persistent sleep (LPS) at Night 1 in 10 mg and 20 mg doses of the drug, the primary endpoint of the study.
The drug also achieved its key secondary goal, defined as wake after sleep onset (WASO), over first 6 hours at Night 1. Minerva said beneficial effects were consistent in both adult and elderly patients, and were maintained over time.
“The findings from this study demonstrate that seltorexant significantly improves sleep induction and prolongs sleep duration. The results also demonstrate that seltorexant showed a significantly greater improvement in these sleep parameters compared to zolpidem,” commented Professor Thomas Roth, Director of the Sleep Disorders and Research Center at Henry Ford Hospital.
“In addition, the beneficial effects on LPS and WASO of seltorexant on elderly patients in the study, in conjunction with a favorable tolerability profile, suggest its potential benefit in the large and growing population of elderly patients whose prevalence of insomnia is higher than in younger patients, thus representing an important therapeutic option,” Professor Roth added.
Minerva Neurosciences Inc shares were up 50.59% to 6.37% as of 10:55 a.m. ET. The stock, which has lost more than 5% since the beginning of the year, was up 34% in premarket trading hours.
Minerva Neurosciences Inc Profile
Minerva Neurosciences Inc is a clinical-stage biopharmaceutical company. The company primarily focuses on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system diseases. Targeted disorders include schizophrenia, insomnia, major depressive disorder and Parkinson’s disease.
Its product portfolio and potential indications include Roluperidone for the treatment of negative symptoms in patients with schizophrenia; Seltorexant, for the treatment of insomnia disorder and major depressive disorder; MIN-117 for the treatment of MDD; and MIN-301 for the treatment of Parkinson’s disease. – Warrior Trading News