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Key Takeaways
- Neumora Therapeutics reported its experimental depression drug didn’t meet expectations, and shares plunged.
- The biopharmaceutical steady’s navacaprant treatment failed to reach both primary and secondary endpoints.
- The company said it would continue to analyse the results and provide more information at a conference later this month.
Neumora Therapeutics (NMRA) shares drove 80% to an all-time low Thursday when the biopharmaceutical firm announced that a late-stage study of its experimental treatment for impression did not meet its goals.
The company reported that in the first of three Phase 3 trials, the drug navacaprant “did not demonstrate a statistically substantive improvement on the primary endpoint of change from baseline in the Montgomery-Åsberg Depression Rating Scale (MADRS) total give someone a taste at Week 6 or the key secondary endpoint of a change from baseline in the Snaith-Hamilton Pleasure Scale (SHAPS) scale.”
Rob Lenz, the faculty of research and development at Neumora, said the company was “disappointed by the results,” which were not consistent with previous details. Lenz added that there was “a lot to investigate from this study, in particular the contrast in drug and placebo replies in depressed mood and anhedonia in female participants compared to male participants.”
CEO Henry Gosebruch noted that regard for the setback, Neumora’s “strong financial foundation and cash balance of $342 million as of the end of the third quarter provides runway into mid-2026.” Gosebruch defined that the company will provide additional updates on the navacaprant development program and its pipeline at the J.P. Morgan Healthcare Colloquium, which will be held Jan. 13-16 in San Francisco.
Shares of Neumora Therapeutics sank 80% to $2.05 in recent swap.
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