Minerva Neurosciences Inc Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Myles Robert Minter - William Blair & Company L.L.C., Research Division - Analyst : Congrats on the data. That 11.7% relapse rate seems pretty impressive and definitely above the expectations of clinicians that I've talked to on roluperidone monotherapy here. A brief look at literature would suggest that at least in acute psychosis patients as high as like 40% to 80% relapse over 12 months when you withdraw therapy. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 12, 2021 / 12:30PM, NERV.OQ - Q1 2021 Minerva Neurosciences Inc Earnings Call

Question: Myles Robert Minter - William Blair & Company L.L.C., Research Division - Analyst : I know this is a completely different patient population. So like how do we think about that 11.7% relative to what we would expect in the real world with this particular patient population in the phase 3?

Question: Myles Robert Minter - William Blair & Company L.L.C., Research Division - Analyst : Yes. No, completely understood. And the relapse rate regardless is definitely impressive. Maybe one on the bioequivalence study as well. I know there was a mention in the press release this morning that you'd be testing an additional commercial and scalable formulation or at least one of them. Is the aim in this trial still to determine non-inferiority between the phase 2B, the phase 3 and these commercial formulations in terms of area under the curve exposure? Are we going to be looking at that B-520 metabolite again that I know was the sort of concern with the QTC wave prolongations over phase 2? Any thoughts there would be helpful.

Question: Myles Robert Minter - William Blair & Company L.L.C., Research Division - Analyst : Okay. And the final one is just for Geoff. You mentioned $95 million in potential milestones from the seltorexant royalty sale to Royalty Pharma. Some of those linked to clinical milestones. There's a lot of phase 3 trials coming on at Janssen for that product. Can you comment whether any of those milestones are weighted to the readout of one of those trials? Does the whole program have to be completed before you would potentially receive a milestone there? Anything you can disclose there would be great.

Question: Myles Robert Minter - William Blair & Company L.L.C., Research Division - Analyst : Okay. Cool. And congrats on the data. Looks great.