Neumora plummets after scrapping depression drug development

Neumora Therapeutics

15/06/2026 13:52

** Shares of drug developer Neumora Therapeutics NMRA.O fall 43.8% to 99 cents premarket
** Co says it is discontinuing the development of its drug, navacaprant, for the treatment of major depressive disorder after it failed two late-stage trials 
** NMRA says navacaprant did not meet the main or secondary goals during the trials
** Company also says it will reduce its workforce by about 35%, which it expects to result in annualized cost savings of about $10 million
** NMRA expects one-time restructuring costs of around $2 million
** Co expects its current cash and cash equivalents to provide runway into the third quarter of 2027
** Up to last close, NMRA stock mostly flat YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))