Neumora Therapeutics Inc. (NMRA), a clinical-stage biopharmaceutical company, on Monday announced the discontinuation of the Phase 3 KOASTAL program evaluating Navacaprant for the treatment of major depressive disorder. Following the announcement, shares fell over 50% on Monday. The KOASTAL-2 and KOASTAL-3 studies enrolled 430 and 422 patients with major depressive disorder (MDD). Data from 426 analyzed patients showed that primary and key secondary endpoints were not met, with recorded parameters for depression in the tested group measuring similar to the placebo group. The primary endpoint was set at a change from baseline (CFB) to week 6 on the Montgomery-Asberg Depression Rating Scale (MADRS). In the KOASTAL-2 study, treated patients showed a similar CFB to the placebo group. In the KOASTAL-3 study, the tested patients showed a numerically lower CFB than the placebo group. The company stated that though Navacaprant showed a generally well-tolerated safety profile, the trials did not yield statistical significance in the primary and secondary endpoints. Additionally, the company plans to lay off about 35% of its workforce in a cost-saving initiative worth $10 million a year. The current cash available to the company may provide runway into the third quarter of 2027. The company highlighted upcoming milestones in its developing clinical portfolio, including an ongoing Phase 2 study for NMRA-511, a V1a receptor antagonist for treating Alzheimer's disease. The Phase 2b study is planned for initiation at the end of this year. The Phase 1 trial for NMRA-898, an M4 positive allosteric modulator developed for treating schizophrenia, is expected to report results by the second half of 2026. The NLRP3 inhibitor NMRA-215, developed for treating obesity, is completing pre-clinical studies in animal models, and may initiate clinical studies by the end of 2026.
NMRA is currently trading at $0.85, down 52.05%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.