Minerva Neurosci Financials
This page shows Minerva Neurosci (NERV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Financing is rebuilding cash reserves while a smaller operating burn shows the business has shifted into capital-preservation mode.
FY2025’s net loss of-$293.4M far exceeded both the operating loss of-$15.1M and the year’s cash burn, so the headline loss did not reflect a comparable drain on liquidity. That matters because operating cash outflow was only-$13.5M while financing inflow added$74.5M , meaning the cash position was sustained externally rather than by the core operation.
The balance sheet is split between short-term comfort and long-term strain: cash ended at
Across FY2023-FY2025, R&D retrenchment rather than expansion explains the leaner cost base, with research spending cut to
Financial Health Signals
Minerva Neurosci does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Minerva Neurosci passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Minerva Neurosci reported a net loss of $293.4M while operations used $13.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Minerva Neurosci's EBITDA was -$15.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 30.9% from the prior year.
Minerva Neurosci reported -$293.4M in net income in fiscal year 2025. This represents a decrease of 20492.7% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Minerva Neurosci held $82.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
Minerva Neurosci invested $5.8M in research and development in fiscal year 2025. This represents a decrease of 51.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
NERV Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $41.2M | $0 | $0 | $0 | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | $5.8M-51.6% | $11.9M-6.3% | $12.7M-13.3% | $14.6M-54.3% | $32.0M+45.4% | $22.0M-62.1% | $58.1M+66.6% | $34.9M+15.3% | $30.3M+48.0% | $20.4M+10.3% | $18.5M-56.8% | $42.9M+5956.3% | $708K |
| SG&A Expenses | N/A | $9.3M-6.1% | $9.9M-4.5% | $10.4M-1.6% | $10.6M-20.6% | $13.3M-22.9% | $17.3M-2.5% | $17.7M+5.3% | $16.8M+54.3% | $10.9M+11.9% | $9.8M+28.7% | $7.6M-36.7% | $12.0M+385.0% | $2.5M |
| Operating Income | N/A | -$15.1M+30.9% | -$21.8M+5.5% | -$23.1M+8.4% | -$25.2M+44.4% | -$45.4M-2556.5% | $1.8M+102.4% | -$75.9M-46.7% | -$51.7M-25.6% | -$41.2M-36.4% | -$30.2M-15.6% | -$26.1M+52.4% | -$54.9M-1628.2% | -$3.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$2.0M-3431.0% | -$58K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | -$1.8M | N/A | -$2.3M | $0+100.0% | -$9.4M | $0 | $0 | N/A | N/A |
| Net Income | N/A | -$293.4M-20492.7% | $1.4M+104.8% | -$30.0M+6.6% | -$32.1M+35.7% | -$49.9M-2671.4% | $1.9M+102.7% | -$72.2M-43.9% | -$50.2M-59.2% | -$31.5M-1.5% | -$31.0M-14.6% | -$27.1M+52.4% | -$56.9M-1644.4% | -$3.3M |
| EPS (Diluted) | — | -$34.67 | $0.19+104.1% | -$4.61+23.3% | -$6.01+35.7% | -$9.35 | $0.05+102.7% | -$1.85 | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
NERV Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $98.0M+163.8% | $37.1M-34.7% | $56.9M+3.3% | $55.1M-28.6% | $77.1M+33.8% | $57.6M-25.6% | $77.5M-44.3% | $139.1M-24.3% | $183.7M+38.2% | $132.9M+61.0% | $82.6M+20.6% | $68.5M+134.6% | $29.2M |
| Current Assets | $83.1M+273.2% | $22.3M-47.0% | $42.0M+4.6% | $40.2M-35.4% | $62.2M+126.7% | $27.4M-41.8% | $47.1M-47.6% | $90.0M-30.5% | $129.5M+54.5% | $83.9M+150.5% | $33.5M+73.1% | $19.3M+963.0% | $1.8M |
| Cash & Equivalents | $82.3M+285.3% | $21.4M-47.8% | $40.9M+13.4% | $36.1M-40.6% | $60.8M+139.6% | $25.4M+18.4% | $21.4M-57.4% | $50.2M+92.8% | $26.1M-68.6% | $83.0M+480.9% | $14.3M-23.0% | $18.5M+919.9% | $1.8M |
| Goodwill | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M0.0% | $14.9M+87.8% | $7.9M |
| Total Liabilities | $233.8M+272.0% | $62.8M-26.4% | $85.4M+13.6% | $75.1M+8.6% | $69.1M+1293.1% | $5.0M-90.0% | $49.7M+1.7% | $48.9M-6.2% | $52.1M+93.2% | $27.0M-1.1% | $27.3M+60.8% | $17.0M+88.4% | $9.0M |
| Current Liabilities | $2.3M-19.3% | $2.8M-15.1% | $3.3M+142.5% | $1.4M-51.1% | $2.8M-10.8% | $3.2M-52.3% | $6.6M+83.7% | $3.6M-47.2% | $6.8M-29.4% | $9.7M+82.1% | $5.3M+51.6% | $3.5M+149.5% | $1.4M |
| Total Equity | -$140.7M-447.8% | -$25.7M+9.7% | -$28.5M-42.1% | -$20.0M-351.1% | $8.0M-84.9% | $52.7M+89.6% | $27.8M-69.2% | $90.3M-31.4% | $131.6M+24.2% | $106.0M+91.6% | $55.3M+7.4% | $51.5M+155.2% | $20.2M |
| Retained Earnings | -$688.8M-74.2% | -$395.4M+0.4% | -$396.8M-8.2% | -$366.8M-9.6% | -$334.7M-17.5% | -$284.8M+0.7% | -$286.7M-33.6% | -$214.6M-30.5% | -$164.4M-23.7% | -$132.9M-30.5% | -$101.8M-36.2% | -$74.7M-319.1% | -$17.8M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
NERV Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$26.2M | -$13.5M+30.9% | -$19.6M-32.2% | -$14.8M+40.0% | -$24.6M-0.2% | -$24.6M+27.3% | -$33.8M+22.1% | -$43.4M-3.6% | -$41.9M-1456.1% | $3.1M+112.0% | -$25.7M-5.8% | -$24.3M+32.5% | -$36.0M-1564.7% | -$2.2M |
| Capital Expenditures | N/A | N/A | N/A | N/A | $16K | N/A | N/A | N/A | N/A | $52K | N/A | N/A | $46K+1311.2% | $3K |
| Free Cash Flow | N/A | N/A | N/A | N/A | -$24.7M | N/A | N/A | N/A | N/A | $3.0M | N/A | N/A | -$36.0M-1564.3% | -$2.2M |
| Investing Cash Flow | -$50.1M | $0 | $0 | $0+100.0% | -$16K | N/A | $24.5M+74.1% | $14.1M-79.7% | $69.5M+164.8% | -$107.2M | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $85.7M | $74.5M | N/A | $19.6M+392074120.0% | -$5-100.0% | $60.0M+353.2% | $13.2M+2421.5% | $525K+115.7% | -$3.3M-107.1% | $47.2M | 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 | N/A | $389 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
NERV Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | N/A | 4.5% | 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 | 4.7% | 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 | -625.7%-629.4pp | 3.7%+263.5pp | -259.8%-204.3pp | -55.6%-31.6pp | -23.9%+5.3pp | -29.3%+19.7pp | -48.9%+61.5pp | -110.5%-94.3pp | -16.2% |
| Return on Assets | -299.5%-303.4pp | 3.9%+56.6pp | -52.7%+5.6pp | -58.3%+6.4pp | -64.7%-68.1pp | 3.4%+96.5pp | -93.1%-57.1pp | -36.1%-18.9pp | -17.2%+6.2pp | -23.4%+9.4pp | -32.8%+50.3pp | -83.1%-72.0pp | -11.2% |
| Current Ratio | 36.28+28.4x | 7.85-4.7x | 12.57-16.6x | 29.15+7.1x | 22.07+13.4x | 8.68+1.6x | 7.11-17.8x | 24.94+6.0x | 18.94+10.3x | 8.66+2.4x | 6.29+0.8x | 5.51+4.2x | 1.29 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 8.67+8.6x | 0.09-1.7x | 1.79+1.2x | 0.54+0.1x | 0.40+0.1x | 0.25-0.2x | 0.49+0.2x | 0.33-0.1x | 0.45 |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Note: Shareholder equity is negative (-$140.7M), 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.
Similar Companies
Where Minerva Neurosci Ranks
Frequently Asked Questions
Is Minerva Neurosci profitable?
No, Minerva Neurosci (NERV) reported a net income of -$293.4M in fiscal year 2025.
What is Minerva Neurosci's EBITDA?
Minerva Neurosci (NERV) had EBITDA of -$15.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Minerva Neurosci's operating cash flow?
Minerva Neurosci (NERV) recorded an outflow of $13.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Minerva Neurosci's total assets?
Minerva Neurosci (NERV) had $98.0M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Minerva Neurosci spend on research and development?
Minerva Neurosci (NERV) invested $5.8M in research and development during fiscal year 2025.
What is Minerva Neurosci's current ratio?
Minerva Neurosci (NERV) had a current ratio of 36.28 as of fiscal year 2025, which is generally considered healthy.
What is Minerva Neurosci's return on assets (ROA)?
Minerva Neurosci (NERV) had a return on assets of -299.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Minerva Neurosci's cash runway?
Based on fiscal year 2025 data, Minerva Neurosci (NERV) had $82.3M in cash against an annual operating cash burn of $13.5M. This gives an estimated cash runway of approximately 73 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 not reported?
Minerva Neurosci (NERV) has negative shareholder equity of -$140.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $293.4M while operations used $13.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.