A securities class action has been filed in the USDC – S.D.N.Y. against Neumora Therapeutics, Inc. (NMRA) (“Neumora” or the “Company”) on behalf of all persons or entities who purchased or otherwise acquired Neumora common stock pursuant, or traceable, or both, to the Offering Documents issued in connection with Neumora’s IPO, which commenced on or about September 15, 2023.
Neumora is a clinical-stage biopharmaceutical company that was founded in 2019 by Arch Venture Partners, L.P. (“Arch”). The Company’s “mission” is to “redefine neuroscience drug development by bringing forward the next generation of novel therapies that offer improved treatment outcomes and quality of life for patients suffering from brain diseases.” Neumora’s therapeutic pipeline currently consists of seven clinical and preclinical neuroscience programs focused on treating neuropsychiatric disorders and neurodegenerative diseases.
The claim arises on or about September 15, 2023, when Neumora conducted the IPO and raised more than $250 million in proceeds for the shares of Neumora common stock offered to the public, while the underwriters collected over $17 million in fees.
The Complaint alleges that, Unbeknownst to investors, Neumora’s Phase Three Program, including the KOASTAL-1 study, was riddled with risks and uncertainties that were well known by the Company at the time of the IPO. Specifically, the Offering Documents failed to disclose and/or misrepresented the following significant, then-existing material events, trends, and uncertainties regarding the prospects of Navacaprant as a monotherapy, including:
(1) in order for Neumora to justify conducting its Phase Three Program, Neumora was forced to amend BlackThorn’s original Phase Two Trial inclusion criteria to include a patient population with moderate to severe MDD to show that Navacaprant offered a statistically significant improvement in treating MDD;
(2) and to that same end, the Company also added a prespecified analysis to the Phase Two statistical analysis plan, focusing on patients suffering from moderate to severe MDD; and
(3) the Phase Two Trials lacked adequate data, particularly in regards to the patient population size and the ratio of male to female patients within the patient population, to be able to accurately predict the results of the KOASTAL-1 study.
Since the IPO, the value of Neumora common stock has declined substantially from the IPO price of $17 per share to a closing price of $1.91 per share on February 5, 2025, an 88.7% decline from the IPO price).
If you purchased Neumora commons stock pursuant, or traceable, or both, to the Offering Documents issued in connection with Neumora’s IPO, which commenced on or about September 15, 2023, and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.