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Neumora Halts Navacaprant Development After Phase 3 Depression Trials Miss Primary Endpoints; Shares Fall Pre-Bell
Neumora Therapeutics (NMRA) said Monday it is discontinuing development of its experimental major depressive disorder treatment navacaprant after two phase 3 studies failed to meet their primary and key secondary endpoints.The KOASTAL-2 and KOASTAL-3 trials, which enrolled more than 850 patients combined, did not show a statistically significant improvement over placebo on the Montgomery-Asberg Depression Rating Scale after six weeks of treatment.The company said pre-specified analyses of patients enrolled after study optimizations in early 2025 also failed to demonstrate efficacy.Following the setback, Neumora announced plans to reduce its workforce by about 35%, a move expected to generate annualized cost savings of roughly $10 million.The company said it expects existing cash reserves to fund operations into Q3 of 2027.Shares of Neumora fell more than 51% in recent premarket activity Monday.Price: $0.86, Change: $-0.91, Percent Change: -51.40%
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