Neumora Therapeutics Stock Jumps on Favorable Obesity Treatment Results

Neumora Therapeutics' shares rose by 6% to $1.58 on Monday, following favorable results from a product designed to treat obesity.

The oral inhibitor NMRA-215 was tested in a 13-week toxicology study of 162 rats, with no instances of unexpected adverse findings observed during the trial.

This result comes after an earlier study of 142 rats resulted in five instances of unexpected adverse findings. However, Neumora believes that these findings were not related to NMRA-215, citing results from dog trials as well.

The company plans to submit an investigational new drug application for NMRA-215 in the fourth quarter of this year.