Minerva Neurosciences Faces Nasdaq Delisting Warning

TL;DR

Minerva Neurosciences got a Nasdaq delisting warning for low stock price, has 180 days to fix it.

AI Summary

Minerva Neurosciences, Inc. announced on April 10, 2024, that it received a notice from Nasdaq regarding its failure to meet the minimum bid price requirement for continued listing. The company has 180 calendar days to regain compliance.

Why It Matters

This notice indicates potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — Failure to meet Nasdaq's minimum bid price requirement poses a significant risk of delisting, which can severely impact stock value and liquidity.

Key Numbers

• 180 days — Compliance Period (Timeframe to regain minimum bid price)

Key Players & Entities

• Minerva Neurosciences, Inc. (company) — Registrant
• Nasdaq (company) — Listing Exchange
• April 10, 2024 (date) — Date of notice

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share NERV The Nasdaq
• $35,000,000 — n below the minimum MVLS requirement of $35,000,000 for the last 31 consecutive business da

Filing Documents

• d788330d8k.htm (8-K) — 21KB
• 0001193125-24-094620.txt ( ) — 137KB
• nerv-20240410.xsd (EX-101.SCH) — 3KB
• nerv-20240410_lab.xml (EX-101.LAB) — 17KB
• nerv-20240410_pre.xml (EX-101.PRE) — 11KB
• d788330d8k_htm.xml (XML) — 3KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 10, 2024 Minerva Neurosciences, Inc. (Exact name of registrant as specified in its charter) Delaware 001-36517 26-0784194 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification Number) 1500 District Avenue , Burlington , MA 01803 (Address of principal executive offices) (Zip Code) (617) 600-7373 (Registrant's telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value per share NERV The Nasdaq Capital Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ( 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( 240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 10, 2024, Minerva Neurosciences, Inc. (the "Company") received notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") that the Company was not in compliance with Nasdaq's Listing Rule 5550(b)(2), as the market value of listed securities (the "MVLS requirement") for the Company's common stock had been below the minimum MVLS requirement of $35,000,000 for the last 31 consecutive business days. The notification of noncompliance indicated that the Company would be provided 180 calendar days in which to regain compliance with the MVLS requirement. The Notice provides the Company with a grace period of 180 calendar days, or until October 7, 2024, to regain compliance with the MVLS requirement, namely the market value of listed securities closes at $35,000,000 or more for a minimum of 10 consecutive business days. If the Company does not regain compliance within the grace period, the Company expects that Nasdaq would provide notice that its securities are subject to delisting from the Nasdaq Capital Market. There can be no assurance that the Company will be able to regain compliance with the market value of listed securities standard or otherwise maintain compliance with the other listing requirements. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MINERVA NEUROSCIENCES, INC. By: /s/ Geoffrey Race Name: Geoffrey Race Title: President Date: April 12, 2024

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View this 8-K filing on SEC EDGAR