Neumora Therapeutics Reports Second Quarter 2026 Financial Results and Provides Business Update
Favorable pre-clinical data reported for NMRA-215 with plan to submit IND in fourth quarter of 2026 and initiate Phase 1 study by end of 2026

Neumora Therapeutics, Inc. is a specialized biopharmaceutical company progressing through clinical trials, dedicated to advancing therapies for a range of neurological, psychiatric, ...
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Est. EPS $-0.20 · Revenue $0.00 · 6 analysts
Est. EPS $-0.18 · Revenue $0.00 · 6 analysts
Est. EPS $-0.91 · Revenue $625000.00 · 7 analysts
Est. EPS $-0.15 · Revenue $0.00 · 2 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $0 | — | — |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-236.9M | +2.8% | +19.4% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | — | — | — |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | — | — | — |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | — | — | — |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-206.4M | -12.8% | +14.8% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | — | — | — |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 0.5% | -28.9% | +31.7% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 5.87x | -44.1% | -11.8% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $191.0M | -39.7% | -18.6% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -1.45 vs -1.42 | -1.9% | -0.23 vs -0.24 | +4.2% |
| Revenue Surprise | — | — | — | — |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Aurora Daljit Singh | officer: See Remarks | Stock Option (Right to Buy) | D | 21,055 | $0.72 |
| Aug 21, 2026 | Aurora Daljit Singh | officer: See Remarks | Stock Option (Right to Buy) | D | 20,553 | $0.72 |
| Aug 21, 2026 | Aurora Daljit Singh | officer: See Remarks | Common Stock | A | 20,553 | $0.72 |
| Aug 21, 2026 | Aurora Daljit Singh | officer: See Remarks | Common Stock | D | 20,553 | $1.59 |
| Aug 21, 2026 | Aurora Daljit Singh | officer: See Remarks | Common Stock | A | 21,055 | $0.72 |
Operator: Ladies and gentlemen, thank you for standing by. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the call over to Helen Rubinstein, Vice President of Investor Relations and Corporate Strategy at Neumora. Please go ahead. Helen Rubinstein: Good afternoon, and thank you for joining Neumora Therapeutics Fourth Quarter and Full Year 2025 Financial Results Conference Call. Before we begin, I encourage everyone to visit the Investors and Media section of our website at neumoratx.com, where you can find the press release related to today's call. With me on the call today are Chief Executive Officer, Paul Berns; President, Josh Pinto; Chief Operating and Development Officer, Bill Aurora; Chief Scientific Officer, Nick Brandon; and Chief Financial Officer, Mike Milligan. I'd like to point out that we will be making forward-looking statements during today's call, which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and our actual results may differ materially. Please review the risk factors discussed in today's press release and in our SEC filings for additional detail. With that, I'll now turn the call over to Paul. Paul Berns: Thanks, Helen. Good morning, everyone, and thank you for joining us. 2025 marked a year of important clinical progress and execution for Neumora. We made meaningful strides in advancing our diverse pipeline of novel mechanism therapies, reported compelling data for NMRA-511, our oral highly potent brain-penetrant and selective vasopressin 1a receptor antagonist, progressed our Phase III program for navacaprant with optimizations based on key learnings from prior studies, expanded our M4 PAM franchise with 2 new programs in clinical development and prioritized obesity as the lead indication for our brain-penetrant NLRP3 inhibitor, NMRA-215 and reported class-leading DIO data, all while continuing to strengthen our financial foundation. Our mission at Neumora remains clear: to advance the next generation of novel therapies that offer improved treatment outcomes and quality of life for patients living with brain diseases. We believe through our differentiated approach centered on advancing programs with best-in-class pharmacology and brain-penetrant chemistry targeting novel mechanisms of action, we have the potential to deliver transformative therapies to millions of patients in need of better options. Now as we move into 2026, Neumora is well positioned to achieve multiple potentially value-creating milestones within the next 12 months. As we approach these near-term catalysts, I am confident in the strength of our science, the focus of our strategy and the dedication of our distinguished Neumora team to deliver revolutionized therapies for patients living with brain diseases. I will now turn the call over to Josh to review our pipeline updates. Josh? Joshua Pinto: Thank you, Paul. We are …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Joshua Pinto | President | USD 2,099,800 | Male | 1985 | Active |
Daljit Singh Aurora | Chief Operationg and development officer | USD 1,748,104 | — | 1968 | Active |
Paul L. Berns | Chairman & CEO | USD 1,236,280 | Male | 1967 | Active |
Jason G. Duncan | Chief Legal & Administrative Officer | USD 315,000 | Male | 1974 | Active |
Stefan Bluemmers | Senior VP of Business Development & Portfolio Management | — | — | — | Active |
David Phillips | Senior Vice President & Head of Quality | — | Male | — | Active |
Paul Yeung | Senior Vice President of Clinical Development | — | — | — | Active |
Michael Lee Milligan | Chief Financial Officer & Principal Accounting Officer | — | Male | 1973 | Active |
Pablo Gersberg | Chief Information Officer | — | Male | — | Active |
Amy Sullivan | Chief Human Resources Officer | — | Female | — | Active |
Nicholas Brandon | Chief Scientific Officer | — | Male | 1975 | Active |
Helen Rubinstein | Head of Investor Relations | — | — | — | Active |
Favorable pre-clinical data reported for NMRA-215 with plan to submit IND in fourth quarter of 2026 and initiate Phase 1 study by end of 2026

Company plans to submit an IND in the fourth quarter of 2026 and to initiate Phase 1 study by the end of 2026 Company plans to submit an IND in the fourth quarter of 2026 and to initiate Phase 1 study by the end of 2026

Neumora Therapeutics (NASDAQ: NMRA) shareholders watched their investment collapse today after the company disclosed that navacaprant failed both Phase 3 KOAST

NEW YORK--(BUSINESS WIRE)--Neumora Therapeutics (NASDAQ: NMRA) shareholders watched their investment collapse today after the company disclosed that navacaprant failed both Phase 3 KOASTAL-2 and KOASTAL-3 trials in major depressive disorder and announced an immediate workforce reduction of approximately 35%. Investors who lost money on NMRA are encouraged to submit their information now to discuss their legal rights. You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com.

Neumora Therapeutics reported data from its Phase 3 KOASTAL Program; the stock fell nearly 50%. NEW YORK, June 16, 2026 /PRNewswire/ -- Neumora Therapeutics (NASDAQ: NMRA) shareholders lost significant value today after the company disclosed that navacaprant failed both Phase 3 KOASTAL-2 and KOASTAL-3 trials in major depressive disorder and announced an immediate ~35% workforce reduction.
