Guggenheim downgraded Neumora Therapeutics (NMRA) to Neutral from Buy. with no price target following yesterday’s announcement that Johnson & Johnson (JNJ) is discontinuing its Phase 3 VENTURA program testing aticaprant as an adjunctive treatment for major depressive disorder due to insufficient efficacy. Aticaprant’s failure in MDD coming after Neumora’s KOASTAL-1 failure with navacaprant “further weakens our conviction” on the validity of this mechanism of action in this indication, says the analyst, who has “limited confidence” on the potential success of navacaprant in MDD at this point.
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