Minerva Neurosci Financials
Financial Health Signals
Minerva Neurosci passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Minerva Neurosci generates $-13.59 in operating cash flow (-$19.6M OCF vs $1.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Minerva Neurosci (NERV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Minerva Neurosci generated $0 in revenue in fiscal year 2024.
Minerva Neurosci's EBITDA was -$21.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.5% from the prior year.
Minerva Neurosci reported $1.4M in net income in fiscal year 2024. This represents an increase of 104.8% from the prior year.
Minerva Neurosci earned $0.19 per diluted share (EPS) in fiscal year 2024. This represents an increase of 104.1% from the prior year.
Minerva Neurosci held $21.4M in cash against $0 in long-term debt as of fiscal year 2024.
Minerva Neurosci had 7M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Minerva Neurosci invested $11.9M in research and development in fiscal year 2024. This represents a decrease of 6.3% from the prior year.
NERV Income Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $925K-51.0% | $1.9M | N/A | $3.4M | N/A | $2.4M | N/A | $4.5M |
| SG&A Expenses | $1.9M-22.6% | $2.5M | N/A | $2.6M | N/A | $2.8M | N/A | $3.0M |
| Operating Income | -$2.8M+34.9% | -$4.4M | N/A | -$6.1M | N/A | -$5.2M | N/A | -$7.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.7M-112.2% | $22.5M | N/A | -$7.8M | N/A | -$6.9M | N/A | -$9.2M |
| EPS (Diluted) | $-0.36-112.1% | $2.97 | N/A | $-1.03 | N/A | $-1.29 | N/A | $-1.72 |
NERV Balance Sheet
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.1M-24.4% | $37.1M-34.7% | $56.9M-9.9% | $63.1M+14.6% | $55.1M-7.8% | $59.8M-22.5% | $77.1M-20.9% | $97.6M |
| Current Assets | $13.0M-41.5% | $22.3M-47.0% | $42.0M-12.9% | $48.2M+20.1% | $40.2M-10.4% | $44.8M-27.9% | $62.2M-7.8% | $67.4M |
| Cash & Equivalents | $12.3M-42.5% | $21.4M-47.8% | $40.9M-12.8% | $46.9M+30.0% | $36.1M-10.3% | $40.2M-33.8% | $60.8M-7.4% | $65.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M |
| Total Liabilities | $62.7M-0.3% | $62.8M-26.4% | $85.4M+2.6% | $83.2M+10.7% | $75.1M+1.5% | $74.0M+7.0% | $69.1M-0.5% | $69.5M |
| Current Liabilities | $2.7M-5.8% | $2.8M-15.1% | $3.3M-0.3% | $3.3M+143.2% | $1.4M-37.3% | $2.2M-22.1% | $2.8M-8.6% | $3.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$34.6M-34.6% | -$25.7M+9.7% | -$28.5M-42.0% | -$20.0M-0.1% | -$20.0M-40.6% | -$14.2M-278.6% | $8.0M-71.6% | $28.1M |
| Retained Earnings | -$405.1M-2.5% | -$395.4M+0.4% | -$396.8M-2.3% | -$387.8M-5.7% | -$366.8M-1.9% | -$360.1M-7.6% | -$334.7M-6.8% | -$313.4M |
NERV Cash Flow Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.9M+43.6% | -$5.2M+13.8% | -$6.0M-24.7% | -$4.8M-16.9% | -$4.1M+56.9% | -$9.5M-97.3% | -$4.8M+44.0% | -$8.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $0 | $0 | $0 | $0+100.0% | -$16K | N/A | N/A | N/A |
| Financing Cash Flow | -$45K | $0 | $0+100.0% | -$87K | $0 | $0 | $0 | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NERV Financial Ratios
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -9.8%-62.4pp | 52.6% | N/A | -12.4% | N/A | -11.6% | N/A | -9.4% |
| Current Ratio | 4.87-3.0 | 7.85-4.7 | 12.57-1.8 | 14.40-14.8 | 29.15+8.7 | 20.41-1.7 | 22.07+0.2 | 21.88 |
| Debt-to-Equity | -1.81+0.6 | -2.45+0.6 | -3.00+1.1 | -4.15-0.4 | -3.75+1.4 | -5.19-13.9 | 8.67+6.2 | 2.47 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$25.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Minerva Neurosci's annual revenue?
Minerva Neurosci (NERV) reported $0 in total revenue for fiscal year 2024. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Minerva Neurosci profitable?
Yes, Minerva Neurosci (NERV) reported a net income of $1.4M in fiscal year 2024.
What is Minerva Neurosci's earnings per share (EPS)?
Minerva Neurosci (NERV) reported diluted earnings per share of $0.19 for fiscal year 2024. This represents a 104.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Minerva Neurosci's EBITDA?
Minerva Neurosci (NERV) had EBITDA of -$21.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Minerva Neurosci's operating cash flow?
Minerva Neurosci (NERV) generated -$19.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Minerva Neurosci's total assets?
Minerva Neurosci (NERV) had $37.1M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does Minerva Neurosci spend on research and development?
Minerva Neurosci (NERV) invested $11.9M in research and development during fiscal year 2024.
How many shares does Minerva Neurosci have outstanding?
Minerva Neurosci (NERV) had 7M shares outstanding as of fiscal year 2024.
What is Minerva Neurosci's current ratio?
Minerva Neurosci (NERV) had a current ratio of 7.85 as of fiscal year 2024, which is generally considered healthy.
What is Minerva Neurosci's debt-to-equity ratio?
Minerva Neurosci (NERV) had a debt-to-equity ratio of -2.45 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Minerva Neurosci's return on assets (ROA)?
Minerva Neurosci (NERV) had a return on assets of 3.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Minerva Neurosci's cash runway?
Based on fiscal year 2024 data, Minerva Neurosci (NERV) had $21.4M in cash against an annual operating cash burn of $19.6M. This gives an estimated cash runway of approximately 13 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Minerva Neurosci's debt-to-equity ratio negative or unusual?
Minerva Neurosci (NERV) has negative shareholder equity of -$25.7M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Minerva Neurosci's Piotroski F-Score?
Minerva Neurosci (NERV) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Minerva Neurosci's earnings high quality?
Minerva Neurosci (NERV) has an earnings quality ratio of -13.59x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.