Navacaprant Fail: Neumora Therapeutics' Stock Plummets Amid Late-Stage Trial Disappointment

Neumora Therapeutics' stock is plummeting nearly 47% after the company revealed that its lead depression drug, navacaprant, failed to outperform placebo in two late-stage trials. The disappointing results have left Neumora with no choice but to discontinue development of navacaprant.

The KOASTAL-2 and KOASTAL-3 studies enrolled over 850 adults, but patients taking navacaprant showed only slight improvements in depression symptoms after six weeks compared to those on a placebo. Neither trial met its main goal of demonstrating a statistically significant benefit.

Neumora Therapeutics plans to cut its workforce by about 35% to conserve cash and refocus resources, generating around $10 million in annual savings. The company's existing cash provides a runway into the third quarter of 2027.