Minerva Neurosciences, a clinical-stage biotech developing treatments for central nervous system diseases, lowered the proposed deal size for its upcoming IPO on Monday. The Cambridge, MA-based company now plans to raise $33 million by offering 5.5 million shares at a price of $6. The company had previously filed to offer 5.5 million shares at a range of $10 to $12. At $6, Minerva Neurosciences will raise 45% less in proceeds than previously anticipated. Minerva Neurosciences, which was founded in 2007, plans to list on the NASDAQ under the symbol NERV. Minerva Neurosciences initially filed confidentially on 2/14/2014. Jefferies is the sole bookrunner on the deal. It is expected to price during the week of June 30, 2014.
