Business
Neumora Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Update
On-track to report topline Phase 3 data from KOASTAL-1 study with navacaprant in MDD; guidance narrowed to fourth quarter of 2024 Multiple clinical study
About this update from Neumora Therapeutics, Inc.
[{"type":"text","content":"On-track to report topline Phase 3 data from KOASTAL-1 study with navacaprant in MDD; guidance narrowed to fourth quarter of 2024 Multiple clinical study initiations planned in second quarter of 2024, including Phase 2 study in bipolar depression with navacaprant and Phase 1b study in Alzheimer's disease agitation with NMRA-511 Strong financial position with $423.0 million in cash, cash equivalents and marketable securities expected to support operations into 2026, providing runway through multiple anticipated value-creating catalysts WATERTOWN, Mass., May 07, 2024 (GLOBE NEWSWIRE) -- Neumora Therapeutics, Inc. (Nasdaq: NMRA) a clinical-stage biopharmaceutical company with a therapeutics pipeline consisting of seven clinical and pre-clinical brain disease programs, today announced financial results for the first quarter ended March 31, 2024, and provided a business update. “We are laser focused on high-quality clinical execution as we advance toward the Phase 3 topline data readout for navacaprant in the fourth quarter,” said Henry Gosebruch, president and chief executive officer, Neumora. “We are well-positioned to achieve multiple potential value creating catalysts in 2024 and 2025 across our strong pipeline, which is focused on alleviating the substantial unmet medical need in neuropsychiatric and neurodegenerative diseases with multiple targets that are supported by strong biological rationale and clinical validation.” KEY PIPELINE HIGHLIGHTS Neumora is advancing a therapeutic pipeline of seven clinical and preclinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases. Navacaprant (NMRA-140): Phase 3 Data from KOASTAL-1 Study in Major Depressive Disorder (MDD) Expected in the Fourth Quarter of 2024 Navacaprant (NMRA-140) is a highly selective, novel, once-daily kappa opioid receptor (KOR) antagonist being developed as a potential monotherapy treatment for MDD and other neuropsychiatric disorders. The KOR antagonist approach has been clinically validated in three independent studies. Neumora is currently enrolling the registrational Phase 3 KOASTAL program, which is designed to evaluate the efficacy and safety of navacaprant monotherapy for the treatment of MDD. KOASTAL-1, KOASTAL-2, and KOASTAL-3 are replicate Phase 3, rando...