UPDATE: Minerva Neurosciences stock rallies after trial of insomnia treatment meets main goals

Minerva Neurosciences Inc. shares soared 34% in premarket trade Monday, after the company said its trial of Seltorexant as a treatment for insomnia met its primary and key secondary goals. The company said the Phase 2b trial of the drug met its primary endpoint of latency to persistent sleep, or LPS, at Night 1 in 10 mg and 20 mg doses of Seltorexant. It also met its key secondary endpoint, defined as wake after sleep onset over first 6 hours at Night 1. The beneficial effects were maintained over time and were consistent in adults and elderly patients. "The findings from this study demonstrate that seltorexant significantly improves sleep induction and prolongs sleep duration," said Professor Thomas Roth, Director of the Sleep Disorders and Research Center at Henry Ford Hospital. "The results also demonstrate that seltorexant showed a significantly greater improvement in these sleep parameters compared to zolpidem." The study involved 365 patients with a mean age of 57.8, ranging from 22 to 84 years of age. Minerva shares have fallen 37.2% in 2019 through Friday, while the S&P 500 has gained 17.7%.

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