Minerva Neurosciences Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares

WALTHAM, Mass., July 06, 2017 - (GLOBE NEWSWIRE) - Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company, today announced the closing of its previously announced public offering of 5,750,000 shares of its common stock, including 750,000 shares sold pursuant to the underwriters' full exercise of their option to purchase additional shares, at a price to the public of $7.75 per share.

Citigroup and Jefferies acted as the book-running managers for the offering, and JMP Securities acted as lead manager for the offering.

Proceeds to Minerva from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $44,562,500. The offering is expected to close on or about July 5, 2017, subject to customary closing conditions.

Minerva intends to use the net proceeds from the offering, together with its existing cash and investments, to fund part of the continued clinical development of MIN-101, MIN-202, MIN-117 and MIN-301, and for working capital and general corporate purposes.

The securities described above were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-205764) that was filed with the United States Securities and Exchange Commission ("SEC") on July 21, 2015 and that was declared effective by the SEC on July 27, 2015. The offering was conducted only by means of a written prospectus and prospectus supplement that form a part of the registration statement, which are available on the SEC's website at www.sec.gov and which may also be obtained by request at Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus@citi.com or by phone at (800) 831-9146, or Jefferies, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 821-7388, e-mail: Prospectus_Department@Jefferies.com.

The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Minerva Neurosciences

Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of products to treat CNS diseases. Minerva's proprietary compounds include: MIN-101, in clinical development for schizophrenia; MIN-202 (JNJ-42847922), in clinical development for insomnia and major depressive disorder (MDD); MIN-117, in clinical development for MDD; and MIN-301, in pre-clinical development for Parkinson's disease. Minerva's common stock is listed on the NASDAQ Global Market under the symbol "NERV."

Forward-Looking Safe Harbor Statement

Any statements in this press release about future expectations, plans and prospects for Minerva Neurosciences, Inc., including statements about Minerva's anticipated public offering, anticipated use of proceeds and plans and prospects for Minerva and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties inherent in the initiation of future clinical trials and such other factors as are set forth in the risk factors detailed in Minerva's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the Securities and Exchange Commission on May 4, 2017 under the heading "Risk Factors." In addition, the forward-looking statements included in this press release represent Minerva's views as of the date hereof. Minerva anticipates that subsequent events and developments will cause Minerva's views to change. However, while Minerva may elect to update these forward-looking statements at some point in the future, Minerva specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Minerva's views as of any date subsequent to the date hereof.

CONTACT:

William B. Boni

VP, Investor Relations/

Corp. Communications

Minerva Neurosciences, Inc.

tel. (617) 600-7376