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Neumora Therapeutics is discontinuing development of navacaprant after Phase 3 KOASTAL-2 and KOASTAL-3 studies for…
NMRANeumora Therapeutics, Inc.
Neumora Therapeutics is discontinuing development of navacaprant after Phase 3 KOASTAL-2 and KOASTAL-3 studies for major depressive disorder failed to achieve statistical significance on primary and key secondary endpoints. Consequently, the company implemented a 35% reduction in force, expected to yield $10 million in annualized savings against $2 million in one-time restructuring costs. Neumora also entered a Third Amendment to its Loan and Security Agreement with K2 HealthVentures LLC, which extends the interest-only period and modifies minimum liquidity covenants effective July 1, 2026. Following these changes, the company expects its cash runway to extend into the third quarter of 2027. Neumora Therapeutics is a biotechnology company focused on developing neuroscience-based medicines.