Mass. Neuroscience Co. Minerva Hit With Stock-Drop Suit

Law360 (January 12, 2021, 5:09 PM EST) -- Massachusetts-based Minerva Neurosciences Inc. misled investors about the success of a clinical trial for its flagship drug candidate, causing stock prices to plummet when the drug's trial ultimately failed, according to a suit filed Monday in federal court.

The investors claimed that Minerva touted its lead product candidate, roluperidone, in late 2016 and early 2017 in public statements. According to the company, the drug, which is meant to treat patients with schizophrenia, was on track for submission to the U.S. Food and Drug Administration as Phase 3 trials began in May 2017, the suit claims.

But the FDA was not as...

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