Neumora Ends Phase 3 KOASTAL Study Of Navacaprant, To Lay Off 35% Of Workforce; Stock Plunges 50%

Neumora Therapeutics discontinued its Phase 3 KOASTAL program for Navacaprant in major depressive disorder, a significant setback for the clinical-stage biotech. The termination of a late-stage trial materially reduces the drug's near-term commercial prospects and likely pressures investor sentiment. Shares fell sharply following the announcement.

Analysis

Neumora Therapeutics discontinued its Phase 3 KOASTAL program for Navacaprant in major depressive disorder, a significant setback for the clinical-stage biotech. The termination of a late-stage trial materially reduces the drug's near-term commercial prospects and likely pressures investor sentiment. Shares fell sharply following the announcement.