Minerva Neurosciences (NASDAQ:NERV), a biopharmaceutical company focused on developing therapies for central nervous system (CNS) disorders, reported a net loss of $283.7 million for the fourth quarter ended December 31, 2025.
The results reflect the high costs associated with the company’s ongoing efforts to secure regulatory approval for its primary product candidates.
On a per-share basis, the Burlington-based firm reported a loss of $25.51.
However, when adjusted for non-recurring costs and one-time accounting items, the quarterly loss narrowed to $0.64 per share.
This discrepancy highlights a period of significant balance sheet restructuring and asset revaluation as the company refines its clinical focus.
For the full year 2025, Minerva reported a total net loss of $293.4 million, or $34.67 per share.
The annual performance was dominated by the clinical development and regulatory filings for roluperidone, a compound designed to treat the negative symptoms of schizophrenia.
Unlike many existing antipsychotics that target positive symptoms like hallucinations, Minerva’s lead candidate aims to address social withdrawal and lack of motivation, areas where there is currently a high unmet medical need.