Shares of Neumora Therapeutics, Inc. (NMRA) are slipping over 15% on Monday morning after the phase 1 trial of NMRA-266 has been placed on clinical hold by the U.S. Food and Drug Administration (FDA).
NMRA is currently trading at $11.40, down $2.16 or 15.89%, on the Nasdaq. The stock opened its trading at $11.07 after closing Friday's trading at $13.56. The stock has traded between $9.35 and $21.00 in the past 52-week period.
Neumora Therapeutics is a clinical-stage biopharmaceutical company with a therapeutics pipeline consisting of seven clinical and pre-clinical brain disease programs.
Neumora Therapeutics announced that the Phase 1 trial of NMRA-266 has been placed on clinical hold by the U.S. Food and Drug Administration (FDA). NMRA-266 is a positive allosteric modulator (PAM) of the M4 muscarinic receptor and is part of the Company's M4 PAM franchise. The clinical hold determination follows recently available pre-clinical data showing convulsions in rabbits.
Following this action, the Phase 1 single ascending dose / multiple ascending dose study with NMRA-266 has been paused. Approximately 30 participants have been dosed in the Phase 1 study, with no evidence of convulsions observed in any participant.
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