Minerva Neurosciences Q3 net income $100.7 million on non-cash warrant gain
Minerva Neurosciences reported GAAP net income of $100.7 million for the quarter ended September 30, 2026, compared with a net loss of $2.7 million a year earlier. The company said the result was driven by a $109.6 million non-cash gain from changes in the fair value of its warrant liability, and excluding that gain and stock-based compensation, its adjusted net loss widened to $5.6 million from $2.5 million. For shareholders, the operating loss grew as research and development and general and administrative spending rose, and cash and equivalents fell to about $77.0 million.
Key points
- GAAP net income of $100.7 million, or $1.94 per basic share and $(0.19) per diluted share, for the three months ended September 30, 2026, versus a net loss of $2.7 million a year earlier.
- Non-cash warrant liability gain of $109.6 million; adjusted net loss was $5.6 million versus $2.5 million in the prior-year quarter.
- R&D expense was $5.2 million versus $0.9 million, and G&A expense was $4.3 million versus $1.9 million.
- Cash, cash equivalents, marketable securities and restricted cash were about $77.0 million at September 30, 2026, down from $82.4 million at December 31, 2025.
The filing
Written by AI on Nov 9, 2026, 7:05 AM ET, from this filing only.
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