Neumora Pulls NMRA-215 and NMRA-511 Clinical Starts Earlier
Cash and cash equivalents were $116.8 million as of June 30, 2026, a position the company said is expected to fund operations into the third quarter of 2027.
Neumora Therapeutics (NMRA), a clinical-stage biopharmaceutical company developing therapies for brain and centrally mediated diseases, pulled two clinical programs earlier than it had planned three months ago and named a new chief executive officer.
The company now expects to submit an investigational new drug application for NMRA-215, an NLRP3 inhibitor for obesity and cardiometabolic disease, in the fourth quarter of 2026 and to initiate a Phase 1 study by the end of 2026. In May, it had said the program was expected to enter the clinic in the first quarter of 2027.
NMRA-511, a vasopressin 1a receptor antagonist in Alzheimer’s disease agitation, is on a similar compressed schedule. Neumora plans to report data from a multiple ascending dose expansion cohort in healthy elderly participants in the fourth quarter of 2026 and to initiate a Phase 2 study by the end of 2026. The prior update had placed both the expansion-cohort readout in the second half of 2026 and the Phase 2 start in the first quarter of 2027.
NMRA-898, an M4 positive allosteric modulator in a multiple ascending dose study in healthy volunteers and patients with stable schizophrenia, remains on a plan to report Phase 1 data in the second half of 2026. The August update no longer highlighted the navacaprant KOASTAL-2 and -3 joint topline readout that had been expected in the second quarter.
Joshua Pinto, Ph.D., who joined Neumora in 2021 and had been elevated to president, was appointed president and chief executive officer and a member of the board. Co-founder Paul L. Berns moved to executive chair. Doron Sagman, M.D., FRCPC, was named chief medical officer. Berns said the last 18 months had been a period of meaningful evolution and that Pinto’s appointment was intended to guide the company through its next phase of growth.
Cash and cash equivalents were $116.8 million as of June 30, 2026, down from $147.1 million at March 31, 2026. June cash is expected to fund the company’s operating plan into the third quarter of 2027, matching the runway it stated after the first quarter.
Research and development expense for the three months ended June 30, 2026, was $29.3 million, compared with $38.7 million a year earlier. The decrease was primarily due to a reduction in clinical trial costs and lower personnel-related costs. General and administrative expense was $12.9 million, versus $15.3 million a year earlier, primarily due to lower personnel-related costs.
Net loss was $43.1 million for the second quarter of 2026, or $0.23 a share, compared with $52.7 million, or $0.33 a share, in the same period of 2025. Weighted-average shares outstanding, basic and diluted, were 185.2 million. Interest expense was $1.82 million, and interest income was $0.94 million.
Total operating expenses were $42.2 million in the quarter. Cash and cash equivalents at year-end 2025 had been $182.5 million. Total assets were $125.2 million and total stockholders’ equity was $44.5 million as of June 30, 2026.
The company delivered another quarter of disciplined execution against strategic priorities and is positioning itself for a series of clinical milestones, with NMRA-215, NMRA-511 and NMRA-898 as the programs it is emphasizing as it moves into the back half of 2026.