Minerva Neurosciences, Inc. (NASDAQ:NERV) Q2 2020 Earnings Conference Call - Final Transcript

Aug 03, 2020 • 08:30 am ET


Minerva Neurosciences, Inc. (NASDAQ:NERV) Q2 2020 Earnings Conference Call - Final Transcript


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Welcome to the Minerva Neurosciences Second Quarter 2020 Conference Call. [Operator Instructions] The 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, Investor Relations & Corporate Communications at Minerva. Please proceed.

William B. Boni

Good morning. A press release with the company's second quarter 2020 financial results and business highlights 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 Securities and Exchange Commission 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 and Mr. Geoff Race, Executive Vice President, Chief Financial Officer and Chief Business Officer. 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 June 30th, 2020, filed with the SEC on August 3rd, 2020.

Any forward-looking statements made on this call speak only as of today's date, Monday, August 3rd, 2020 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. I hope everyone is doing well. Today, I will focus primarily on Minerva's lead product, roluperidone, which recently completed the double-blind part in a Phase III trial for the treatment of negative symptoms in patients suffering from schizophrenia.

The significant unmet medical need is the main reason why patients with schizophrenia suffer from diminished function and it places a huge burden on patients, the families and the healthcare system. Today, there is no approved treatment for negative symptoms in the United States.

Based on the review of the Phase III data, which builds on the Phase IIb data as well as additional data we have compiled over the years, we continue to believe that roluperidone has potential to be the first drug to improve negative symptoms directly and specifically. After giving an update on roluperidone, I will also discuss the seltorexant program and