Minerva Neurosciences, Inc. (NASDAQ:NERV) Q3 2019 Earnings Conference Call - Final Transcript

Nov 04, 2019 • 08:30 am ET


Minerva Neurosciences, Inc. (NASDAQ:NERV) Q3 2019 Earnings Conference Call - Final Transcript


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Welcome to the Minerva Neurosciences Third Quarter 2019 Conference Call. At this time, all participants are in a listen-only mode. There will be a question-and-answer session following today's prepared remarks. This call is being webcast live on the Investors section of Minerva's website at ir.minervaneurosciences.com. As a reminder, today's call is being recorded.

I would now like to turn the call over to William Boni, Vice President of Investor Relations and Corporate Communications at Minerva. Please proceed.

William B. Boni

Good morning. A press release with the Company's third quarter 2019 financial results became available at 7:30 AM Eastern Time today, and can be found on the Investors section of our website. Our quarterly report on Form 10-Q was also filed electronically with the SEC this morning, and can be found on the SEC's website at www.sec.gov.

Joining me on the call today from Minerva are Dr. Remy Luthringer, Executive Chairman and Chief Executive Officer; Mr. Geoff Race, Executive Vice President, Chief Financial Officer and Chief Business Officer; and Mr. Rick Russell, President. Following our prepared remarks, we will open the call for Q&A.

Before we begin, I would like to remind you that today's discussion will include statements about the Company's future expectations, plans, and prospects that constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. We caution that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated. These forward-looking statements are based on our current expectations and may differ materially from actual results due to a variety of factors that are more fully detailed under the caption Risk Factors in our filings with the SEC, including our quarterly report on Form 10-Q for the quarter ended September 30, 2019 filed with the SEC on November 4, 2019.

Any forward-looking statements made on this call speak only as of today's date, Monday, November 4, 2019, and the company disclaims any obligation to update any of these forward-looking statements to reflect events or circumstances that occur after today's call, except as required by law.

I would now like to turn the call over to Remy Luthringer.

Remy Luthringer

Thank you, Bill, and good morning everyone. Thanks for joining us today. As we near the end of this year, I would like to review the progress we have made during 2019 in each of our clinical-stage programs.

First, we have completed and read out top-line results from four trials with seltorexant in major depressive disorder, MDD and insomnia. Second, we have concluded enrollment in Phase 2b trial with MIN-117 in MDD, and we expect to have top-line results in the fourth quarter of 2019. Finally, we have advanced patient enrollment in our pivotal Phase III trial with our lead product roluperidone and we have resumed the pacing of patient recruitment following the temporary delay we discussed in October.

Beginning with Phase III trial with roluperidone enrollment rates have returned to expected levels. As we stated last