Neumora Therapeutics, Inc. (NMRA)
NASDAQ:NMRA
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Neumora Therapeutics, Inc.
(NASDAQ:NMRA)
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Rating:44Neutral
Price Target:
$2.50
▲(16.28% Upside)
Action:ReiteratedDate:03/31/26
Score is held down primarily by weak financial performance (pre-revenue, heavy and rising cash burn, shrinking equity base) and bearish technicals (below major moving averages with negative MACD). Earnings call commentary provides partial support via multiple upcoming catalysts and runway into Q3 2027, but NMRA-215 toxicology-related delays add meaningful execution risk; valuation metrics offer limited support given negative earnings.
Positive Factors
Pipeline breadth & near‑term catalysts
Neumora advances multiple, mechanism-diverse CNS assets with several scheduled readouts over 12–18 months. This program breadth creates durable optionality: positive results across programs can de-risk the company beyond any single asset and support long‑term clinical-stage value creation.
Negative Factors
Worsening cash burn
Operating outflows have roughly doubled over three years, reflecting rising development spend across the portfolio. Persistently large negative cash flow structurally raises financing and dilution risk, constrains strategic optionality, and can force program prioritization or cuts if capital access tightens.
Read all positive and negative factors
Positive Factors
Negative Factors
Pipeline breadth & near‑term catalysts
Neumora advances multiple, mechanism-diverse CNS assets with several scheduled readouts over 12–18 months. This program breadth creates durable optionality: positive results across programs can de-risk the company beyond any single asset and support long‑term clinical-stage value creation.
Read all positive factors
Neumora Therapeutics, Inc. (NMRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$422.33M
Dividend YieldN/A
Average Volume (3M)490.26K
Price to Earnings (P/E)―
Beta (1Y)2.27
Revenue GrowthN/A
EPS Growth20.71%
CountryUS
Employees110
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.35
Shares Outstanding182,040,940
10 Day Avg. Volume506,087
30 Day Avg. Volume490,256
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)2.82
Price to Sales (P/S)0.00
P/FCF Ratio-1.42
Enterprise Value/Market Cap0.56
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-47.69
Enterprise Value/Ebitda-1.00
Forecast
1Y Price Target
$9.33Price Target Upside334.11% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.98
Revenue Forecast (FY)N/A
Neumora Therapeutics, Inc. Business Overview & Revenue Model
Company Description
Neumora Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a nov...
How the Company Makes Money
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Neumora Therapeutics, Inc. Earnings Call Summary
Earnings Call Date:Mar 30, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call conveyed strong scientific and clinical momentum across several programs with multiple near-term catalysts (NMRA-511, navacaprant KOASTAL-2/3, NMRA-898) and compelling preclinical/early clinical data (notably NMRA-511 effect sizes and NMRA-215 DIO results). However, a non-dose-dependent adverse signal in a 13-week rat tox study for NMRA-215, associated study conduct issues and the need to repeat toxicology introduce timeline, regulatory and cost risk for that program. Financial runway of $182.5M into Q3 2027 is adequate for the near term but will require careful capital allocation as multiple programs advance. Overall, positives on pipeline progress and enrollments outweigh the headwinds from the NMRA-215 tox delay and finite cash runway, but risks remain tied to upcoming pivotal readouts.Positive Updates
Strong Clinical Momentum and Multiple Near-Term Catalysts
Company highlighted a catalyst-rich 12 months with multiple expected readouts: KOASTAL-2/3 topline data in Q2 2026, NMRA-511 MAD extension data in H2 2026, NMRA-898 MAD data in H2 2026, and planned clinical entry for NMRA-215 in Q1 2027 (now delayed due to tox retest). Management emphasized differentiated mechanisms and brain-penetrant chemistry across the pipeline.
Negative Updates
NMRA-215 13-Week Rat Toxicology Findings Causing Delay
Unexpected adverse findings observed in a small number of animals in a 13-week rat toxicology study. Findings were described as not dose-dependent and not associated with a known molecule-related/on-target effect, but occurred alongside documented study conduct issues. A for-cause audit has been opened, a repeat 13-week rat study has been initiated with a different CRO, and clinical entry for NMRA-215 is now expected in Q1 2027 (i.e., delayed).
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Q4-2025 Updates
Positive
Negative
Strong Clinical Momentum and Multiple Near-Term Catalysts
Company highlighted a catalyst-rich 12 months with multiple expected readouts: KOASTAL-2/3 topline data in Q2 2026, NMRA-511 MAD extension data in H2 2026, NMRA-898 MAD data in H2 2026, and planned clinical entry for NMRA-215 in Q1 2027 (now delayed due to tox retest). Management emphasized differentiated mechanisms and brain-penetrant chemistry across the pipeline.
Read all positive updates
Company Guidance
Neumora guided to a catalyst-rich 12–18 month period: NMRA-511 will report MAD extension data in H2 2026 and plans to start a Phase II in Q1 2027 (Phase Ib prespecified subgroup n=53 showed a Cohen’s d of ~0.32–0.34 on CMAI with no somnolence/sedation); navacaprant’s KOASTAL‑2 and KOASTAL‑3 are fully enrolled (more than 400 patients each) with a joint top‑line readout expected in Q2 2026 and prespecified/post‑pause analyses covering >450 patients after protocol optimizations (screen‑fail rate ~10% higher vs KOASTAL‑1); M4 PAM lead NMRA‑898 (half‑life ~80–100 hours) will report MAD data in H2 2026; NMRA‑215 showed class‑leading 12‑week DIO results (combination ~23% weight reduction and semaglutide‑comparable maintenance) but a repeat 13‑week rat tox study has been initiated after unexpected findings in a small number of animals, and the company now expects first‑in‑human dosing in Q1 2027; financials: $182.5M cash and equivalents as of 12/31/2025, expected runway into Q3 2027, and 2025 net loss comparable to 2024.Neumora Therapeutics, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -5.00M | 0.00 | -668.00K | 0.00 | 0.00 |
| EBITDA | -233.37M | -262.83M | -187.53M | -135.28M | -236.78M |
| Net Income | -236.93M | -243.79M | -235.93M | -130.90M | -237.31M |
Balance Sheet | |||||
| Total Assets | 191.05M | 316.97M | 496.19M | 426.23M | 429.30M |
| Cash, Cash Equivalents and Short-Term Investments | 182.53M | 307.58M | 453.98M | 371.88M | 409.25M |
| Total Debt | 477.00K | 1.85M | 5.23M | 8.44M | 2.05M |
| Total Liabilities | 87.18M | 29.91M | 27.12M | 873.08M | 754.52M |
| Stockholders Equity | 103.87M | 287.06M | 469.08M | -446.85M | -325.22M |
Cash Flow | |||||
| Free Cash Flow | -206.44M | -182.94M | -163.40M | -115.41M | -76.24M |
| Operating Cash Flow | -206.44M | -182.94M | -163.28M | -114.90M | -75.42M |
| Investing Cash Flow | 168.52M | -70.56M | 64.39M | -168.01M | -817.00K |
| Financing Cash Flow | 77.09M | 21.60M | 231.94M | 115.74M | 293.51M |
Neumora Therapeutics, Inc. Technical Analysis
Neutral
2.15
Price Trends
2.72
Negative
2.38
Negative
2.13
Positive
Market Momentum
-0.18
Negative
42.52
Neutral
38.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NMRA, the sentiment is Neutral. The current price of 2.15 is below the 20-day moving average (MA) of 2.18, below the 50-day MA of 2.72, and above the 200-day MA of 2.13, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 42.52 is Neutral, neither overbought nor oversold. The STOCH value of 38.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NMRA.
Neumora Therapeutics, Inc. Risk Analysis
Neumora Therapeutics, Inc. disclosed 79 risk factors in its most recent earnings report. Neumora Therapeutics, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Neumora Therapeutics, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $768.56M | -1.58 | -57.07% | ― | -100.00% | 37.10% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $306.92M | 3.92 | 53.18% | ― | ― | ― | |
49 Neutral | $292.09M | -4.42 | -101.60% | ― | -89.01% | -86.17% | |
44 Neutral | $422.33M | -1.23 | -113.81% | ― | ― | 20.71% | |
43 Neutral | $117.15M | -4.47 | -48.06% | ― | ― | 31.30% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.