Health and Healthcare
Are Biotechs the Next Target for Cyber Criminals?
Published:
Last Updated:
After Minerva Neurosciences Inc. (NASDAQ: NERV) announced that it was the victim of a cyberattack, its shares dropped sharply on Tuesday. Minerva also provided an update on its clinical trials.
The company said that it had a cyberattack on an external contractor, which resulted in delays in patient recruitment for the Phase 3 trial of its schizophrenia treatment, roluperidone.
So far, Minerva noted that a total of 384 patients of a targeted 501 have been enrolled, with complete enrollment now expected by year’s end, and top-line results are expected in the first half of 2020.
Minerva also said that its patient screening has been completed in the Phase 2b trial of MIN-117 in moderate to severe major depressive disorder. The top-line results are expected in the fourth quarter of 2019.
Excluding Tuesday’s move, Minerva had underperformed the broad markets, with its stock up only 15% year to date. In the past 52 weeks, the stock was down 38%.
Shares of Minerva traded down 23% to $5.97 on Tuesday, in a 52-week range of $4.07 to $11.99. The consensus price target is $19.20.
24/7 Wall St.Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.