Minerva Neurosciences, Inc. (NERV) Balance Sheet
NERV balance sheet, 2025
December 31, 2025 · U.S. dollars$98.0M assets = $238.7M liabilities + −$140.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$140.7M).
Both columns are drawn to the same scale: what NERV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NERV financial health
Descriptive bands, not a rating. Fiscal 2025.
NERV balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $132.9M2016 | $98.0M2025 | −3.3%/yr | |
| Total liabilities | $27.0M2016 | $238.7M2025 | +27.4%/yr | |
| Shareholders’ equity | $106.0M2016 | −$140.7M2025 | — | |
| Cash & short-term investments | $83.0M2016 | $82.3M2025 | −0.1%/yr | |
| Total debt | $8.7M2016 | $65.0M2025 | +25.0%/yr | |
| Net cash (debt) | $74.3M2016 | $17.3M2025 | −$56.9M | |
| Working capital | $74.2M2016 | $80.8M2025 | +$6.6M | |
| Debt / equity | 0.082016 | 0.002020 | −0.08 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NERV assets
NERV liabilities and equity
NERV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NERV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $82.3M | $21.4M | $40.9M | $36.1M | $60.8M | $25.4M | $45.9M | $88.0M | $128.2M | $83.0M |
| Cash & equivalents | $82.3M | $21.4M | $40.9M | $36.1M | $60.8M | $25.4M | $21.4M | $50.2M | $26.1M | $83.0M |
| Short-term investments | — | $100,000 | $100,000 | — | — | $0 | $24.4M | $37.8M | $102.1M | $0 |
| Receivables | $0 | $0 | $0 | $3.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | −$3.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $798,000 | $906,895 | $1.1M | $4.0M | $1.4M | $2.1M | $1.3M | $2.0M | $1.4M | $883,241 |
| Total current assets | $83.1M | $22.3M | $42.0M | $40.2M | $62.2M | $27.4M | $47.1M | $90.0M | $129.5M | $83.9M |
| Property, plant & equipment (net) | $0 | $5,442 | $10,884 | $16,326 | $51,080 | $101,786 | $277,963 | $33,478 | $50,945 | $9,640 |
| Goodwill & intangible assets | $14.9M | $14.87B | $14.9M | $14.9M | $14.9M | $30.1M | $30.1M | $49.1M | $49.1M | $49.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.0M | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $14,808 | $14,808 | $14,808 | $14,808 | $0 |
| Total assets | $98.0M | $37.1M | $56.9M | $55.1M | $77.1M | $57.6M | $77.5M | $139.1M | $183.7M | $132.9M |
| Liabilities | ||||||||||
| Accounts payable | $639,000 | $1.6M | $1.8M | $969,667 | $1.9M | $995,614 | $2.3M | $1.8M | $1.4M | $1.5M |
| Short-term debt | — | — | — | — | — | $111,229 | $172,901 | $41.18B | $4.0M | $4.9M |
| Deferred revenue | — | — | — | — | — | — | $41.18B | $41.18B | $41.18B | — |
| Total current liabilities | $2.3M | $2.8M | $3.3M | $1.4M | $2.8M | $3.2M | $6.6M | $3.6M | $6.8M | $9.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.8M |
| Lease obligations | — | — | — | — | $0 | $111,229 | $284,130 | — | — | — |
| Other long-term liabilities | $236.4M | $60.0M | $82.0M | $73.7M | $66.3M | $1.8M | $43.1M | $45.3M | $45.3M | $13.4M |
| Total liabilities | $238.7M | $62.8M | $85.4M | $75.1M | $69.1M | $5.0M | $49.7M | $48.9M | $52.1M | $27.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $4,327 | $699 | $699 | $534 | $534 | $4,272 | $3,908 | $3,894 | $3,875 | $3,502 |
| Retained earnings (deficit) | −$688.8M | −$395.4M | −$396.8M | −$366.8M | −$334.7M | −$284.8M | −$286.7M | −$214.6M | −$164.4M | −$132.9M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | −$140.7M | −$25.7M | −$28.5M | −$20.0M | $8.0M | $52.7M | $27.8M | $90.3M | $131.6M | $106.0M |
| Key figures | ||||||||||
| Total debt | $65.0M | $60.0M | $82.0M | $73.7M | — | $111,229 | $284,130 | $41.18B | $4.0M | $8.7M |
| Net cash (debt) | $17.3M | −$38.6M | −$41.1M | −$37.6M | — | $25.2M | $45.6M | −$41.09B | $124.2M | $74.3M |
| Working capital | $80.8M | $19.4M | $38.7M | $38.8M | $59.4M | $24.3M | $40.5M | $86.4M | $122.7M | $74.2M |
| Tangible book value | −$155.6M | −$14.90B | −$43.3M | −$34.9M | −$6.9M | $22.6M | −$2.3M | $41.2M | $82.5M | $56.9M |
| Current ratio | 36.29 | 7.85 | 12.57 | 29.15 | 22.07 | 8.68 | 7.11 | 24.94 | 18.94 | 8.66 |
| Quick ratio | 35.94 | 7.53 | 12.25 | 28.46 | 21.55 | 8.02 | 6.92 | 24.38 | 18.74 | 8.57 |
| Debt / equity | — | — | — | — | — | 0.00 | 0.01 | 456.16 | 0.03 | 0.08 |
| Equity / assets | −143.7% | −69.2% | −50.0% | −36.4% | 10.3% | 91.4% | 35.8% | 64.9% | 71.6% | 79.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $75.3M | $78.2M | $82.3M | $12.3M | $15.2M | $17.3M | $21.4M | $26.5M | $31.0M | $34.9M | $40.91B | $46.9M |
| Cash & equivalents | $24.7M | $32.8M | $82.3M | $12.3M | $15.2M | $17.3M | $21.4M | $26.5M | $31.0M | $34.9M | $40.91B | $46.9M |
| Short-term investments | $50.6M | $45.4M | — | — | — | $100,000 | $100,000 | $100,000 | — | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $4.5M | $941,883 | $797,676 | $733,533 | $299,615 | $634,798 | $906,895 | $1.4M | $428,018 | $702,546 | $1.09B | $1.3M |
| Total current assets | $79.7M | $79.1M | $83.1M | $13.0M | $15.5M | $17.9M | $22.3M | $27.9M | $31.4M | $35.6M | $42.00B | $48.2M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $1,360 | $2,721 | $4,081 | $5,442 | $6,802 | $8,163 | $9,524 | $10,884 | $12,245 |
| Goodwill & intangible assets | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.87B | $14.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $487,029 | $50,978 | $0 | $201,114 | $0 | $0 | $0 | $0 | $0 | $0 | $27.9M | $0 |
| Total assets | $95.1M | $94.0M | $98.0M | $28.1M | $30.4M | $32.8M | $37.1M | $42.8M | $46.3M | $50.5M | $56.90B | $63.1M |
| Liabilities | ||||||||||||
| Accounts payable | $1.4M | $2.1M | $639,707 | $944,492 | $896,799 | $639,946 | $1.6M | $553,192 | $828,345 | $1.4M | $1.81B | $1.4M |
| Total current liabilities | $4.0M | $4.5M | $2.3M | $2.7M | $2.5M | $1.9M | $2.8M | $4.5M | $4.2M | $2.8M | $3.34B | $3.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $292.7M | $343.6M | $236.4M | $60.0M | $60.0M | $60.0M | $60.0M | $60.0M | $86.6M | $84.3M | $82.02B | $79.8M |
| Total liabilities | $296.6M | $348.0M | $238.7M | $62.7M | $62.5M | $61.9M | $62.8M | $64.5M | $90.8M | $87.1M | $85.36B | $83.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $4,723 | $4,384 | $4,327 | $699 | $699 | $699 | $699 | $699 | $699 | $699 | $699,000 | $699 |
| Retained earnings (deficit) | −$796.7M | −$814.2M | −$688.8M | −$405.1M | −$402.4M | −$399.1M | −$395.4M | −$391.1M | −$413.6M | −$405.4M | −$396.82B | −$387.8M |
| Total shareholders' equity | −$201.6M | −$254.0M | −$140.7M | −$34.6M | −$32.1M | −$29.1M | −$25.7M | −$21.7M | −$44.5M | −$36.6M | −$28.46B | −$20.0M |
| Key figures | ||||||||||||
| Total debt | $71.7M | $65.0M | $65.0M | — | $60.0M | $60.0M | $60.0M | $60.0M | $86.6M | $84.3M | $82.0M | $79.8M |
| Net cash (debt) | $3.5M | $13.2M | $17.3M | — | −$44.8M | −$42.7M | −$38.6M | −$33.5M | −$55.6M | −$49.3M | $40.83B | −$32.9M |
| Working capital | $75.8M | $74.6M | $80.8M | $10.3M | $13.0M | $16.0M | $19.4M | $23.5M | $27.2M | $32.8M | $38.66B | $44.9M |
| Tangible book value | −$216.4M | −$268.9M | −$155.6M | −$49.4M | −$47.0M | −$44.0M | −$40.6M | −$36.5M | −$59.4M | −$51.5M | −$43.33B | −$34.9M |
| Book value per share | −$2.55 | −$5.79 | −$12.66 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 79.1M | 43.9M | 11.1M | — | — | — | — | — | — | — | — | — |
| Current ratio | 20.14 | 17.65 | 36.28 | 4.87 | 6.15 | 9.21 | 7.85 | 6.23 | 7.47 | 12.58 | 12.57 | 14.40 |
| Quick ratio | 19.02 | 17.44 | 35.93 | 4.60 | 6.03 | 8.88 | 7.53 | 5.92 | 7.37 | 12.34 | 12.25 | 14.00 |
| Equity / assets | −212.0% | −270.1% | −143.7% | −123.1% | −105.6% | −88.9% | −69.2% | −50.6% | −96.1% | −72.4% | −50.0% | −31.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 11, 2026); data from EODHD.
NERV financial position
At the end of fiscal 2025 (December 31, 2025), Minerva Neurosciences had total assets of $98.0 million (up 163.8% from a year earlier), total liabilities of $238.7 million and shareholders' equity of -$140.7 million. It held $82.3 million in cash and short-term investments against $65.0 million of debt, a net cash position of $17.3 million. Its current ratio was 36.29. In the latest quarter (ended June 30, 2026) total assets were $95.1 million and equity -$201.6 million.
Related: NERV income statement, NERV cash flow statement, NERV key metrics. See the NERV stock overview for the latest quote and news.
NERV balance sheet FAQ
What are Minerva Neurosciences's total assets?
Minerva Neurosciences reported total assets of $98.0 million at the end of fiscal 2025 (December 31, 2025), compared with $37.1 million a year earlier.
How much debt does Minerva Neurosciences have?
Minerva Neurosciences had $65.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Minerva Neurosciences have?
Minerva Neurosciences held $82.3 million in cash and short-term investments at the end of fiscal 2025; with $65.0 million of debt that is net cash of $17.3 million.
What is Minerva Neurosciences's book value?
Minerva Neurosciences's shareholders' equity (book value) was -$140.7 million at the end of fiscal 2025.
What is Minerva Neurosciences's current ratio?
Minerva Neurosciences had current assets of $83.1 million and current liabilities of $2.3 million, a current ratio of 36.29 (it can cover its short-term obligations).
How much goodwill does Minerva Neurosciences have?
Minerva Neurosciences carried $14.9 million of goodwill and intangible assets, 15.2% of total assets, at the end of fiscal 2025.