Neumora Therapeutics Stock Tanks as Its Depression Drug Misses Goals | Global News Avenue

Neumora Therapeutics, Inc. (NMRAShares of the biopharmaceutical company plunged 80% to a record low on Thursday when it announced that a late-stage study of its experimental depression treatment missed its targets.

The company reports that in two-thirds of first Phase 3 trialthe drug navacaprant “did not demonstrate statistically significant improvement in the primary endpoint of change from baseline in the Montgomery-Asberg Depression Rating Scale (MADRS) total score at Week 6 or in the key secondary endpoint of change from baseline in Snaith- Significant improvement on the Hamilton Happiness Scale (SHAPS) scale.”

Rob Lenz, head of R&D at Neumora, said the company was “disappointed with the results,” which were inconsistent with previous data. “There’s a lot to like about this study, particularly how female participants compared with male participants’ drug and placebo responses in terms of depressed mood and anhedonia,” Lentz added.

CEO Henry Gosebruch noted that despite the setback, Neumora’s “strong financial fundamentals and cash balance of $342 million as of the end of the third quarter provide a good foundation for mid-2026.” Gosebruch explained that the company will on January 13 More updates on navacaprant’s development plans and its pipeline will be provided at the J.P. Morgan Healthcare Conference in San Francisco on the 16th.

Neumora Therapeutics shares fell 80% in recent trading to $2.05.