Neumora Therapeutics: Downgrading After Navacaprant Development Setback

2026-03-30 16:13:38 ET

The last time I spoke about Neumora Therapeutics ( NMRA ), it was with a Seeking Alpha article entitled " Neumora: Kostal-1 Readout For MDD Treatment Is First Study On Deck ." With respect to this article, I mentioned that it would release data from its KOASTAL-1 study using its drug navacaprant for the treatment of patients with major depressive disorder [MDD] by the end of 2024. It finally released results from this, the first of three replicate studies from its KOASTAL program. Today, I'm downgrading this stock to a "Hold" rating from a "Strong Buy" rating. The first reason is because of the fact that it failed to achieve the primary endpoint of reduction in depressive symptoms as measured by MADRS total score compared to placebo. The company did change the protocol for the other studies as part of the KOASTAL program, KOASTAL-2 and KOASTAL-3, which is a good thing....

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