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.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
