Minerva Neurosciences Prices IPO Below Range

(RTTNews) - Minerva Neurosciences Inc on Monday priced its initial public offering of about 5.45 million shares of common stock at $6.00 per share, below its expected range of $10 to $12 per share.

The shares are scheduled to begin trading on the NASDAQ Global Market under the ticker symbol "NERV" on July 1.

Minerva has granted the underwriters a 30-day option to purchase up to an additional 818,181 shares of common stock at the same price.

The offering is expected to close on July 7.

Minerva is a clinical stage biopharmaceutical company focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system diseases.