NMRA

Company Overview — What Does Neumora Therapeutics, Inc. Do?

We are a clinical-stage biopharmaceutical company founded to confront the global brain disease crisis by taking a fundamentally different approach to the way treatments for brain diseases are developed. We have rapidly scaled our therapeutic pipeline, which currently consists of seven clinical and preclinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases. We expect to continue to progress the development of our pipeline with the planned initiation of multiple clinical trials across our programs over the next 12 to 18 months, which supports numerous anticipated data readouts. Our most advanced product candidate, navacaprant (NMRA-140), is a novel once-daily oral kappa opioid receptor (KOR) antagonist that is being developed for the treatment of major depressive disorder (MDD), which we believe has the potential to provide significant advantages relative to the standard of care, if approved. We are initiating a pivotal Phase 3 program for navacaprant monotherapy in patients with moderate to severe MDD and anticipate releasing topline results for the KOASTAL-1 study in the second half of 2024. Brain diseases collectively represent one of the largest areas of unmet medical need globally, affecting upwards of 1.5 billion patients. Despite the commercial success of historically approved drugs, the markets for many of the most prevalent brain disorders have been dominated by a single class of drugs, such as serotonin-targeting antidepressants for MDD, leaving patients with a high degree of unmet medical need given the lack of diverse treatment options and mechanisms of action. For example, there are currently over 21 million adults in the United States diagnosed with MDD, 85% of whom either do not receive treatment with a pharmacological agent or fail to achieve remission with first-line selective serotonin reuptake inhibitors (SSRI)/serotonin and norepinephrine reuptake inhibitors (SNRI) and thus progress onto second-line treatment with another SSRI/SNRI. In addition, patients with common neuropsychiatric disorders and neurodegenerative diseases are heterogeneous, presenting diverse symptoms and multiple underlying disease drivers. Despite the inherent heterogeneity of these disorders, patients are generally diagnosed based on broad disease classifications defined by subjective clinical symptoms rather than by specific underlying genetic and biological mechanisms. As a result, clinical development in neuroscience to date has taken a “one-size-fits-all” approach, in contrast to other areas that have employed more of a targeted patient selection approach. From 2011 to 2020, clinical development success rates for new drug candidates that employed patient selection biomarkers were approximately 16% compared to approximately 8% for those without patient selection biomarkers according to the Biotechnology Innovation Organization (BIO); however, clinical success depends on a number of factors and employing a patient selection biomarker approach does not guarantee that our product candidates will be approved and commercialized. We believe the relative lack of progress and innovation within the broader central nervous system (CNS) therapeutic landscape is due in large part to an insufficient degree of focus on novel, potentially more therapeutically relevant targets implicated in CNS diseases and clinical development strategies that often yield inconclusive results due to the inherent heterogeneity known to occur in patient populations classified by broad symptomatic domains. We founded Neumora to confront these challenges by taking a fundamentally different approach to the way treatments for brain diseases are developed. We are redefining neuroscience drug development by: • Building a diversified neuroscience company at scale with a broad therapeutic pipeline and significant capital resources: We have raised over $600 million in funding and purpose-built an industry-leading team of company builders and neuroscience drug developers. As a result, we have quickly scaled a broad therapeutic pipeline consisting of seven clinical and preclinical programs, which we aim to develop to meet unmet medical need across brain health disorders. • Focusing on therapeutic candidates with novel mechanisms of action: We have built a pipeline of seven clinical and preclinical programs that target novel mechanisms of action with the potential to provide new treatment options to patients that alleviate unmet medical need. Several of our programs target novel mechanisms of actions that have shown preclinical and clinical data from Neumora and other leading biopharmaceutical companies pursuing programs against the same target. For example, another KOR antagonist aticaprant (Janssen Pharmaceuticals) has demonstrated an improvement in depression and anhedonia in prior clinical trials and M4 muscarinic receptor-targeting compounds have demonstrated potential as an approach to treating schizophrenia in multiple, placebo-controlled clinical trials. • Leveraging a precision neuroscience approach with the goal of maximizing the value of our programs: To better understand the biological drivers of heterogeneous brain diseases and to identify targeted patient populations of interest, we have built our Precision Toolbox, which integrates a suite of translational and clinical tools with proprietary machine learning algorithms and methods, and incorporates insights from analyzing patient data. We believe our Precision Toolbox will enable us to execute potential strategies to gain confidence in a target or potential indication, help identify biomarkers, enroll the right patients in our clinical studies, optimize clinical trial designs and expand indication expansion opportunities; ultimately, supporting our goal of increasing the likelihood of matching the right drug for the right patient. --- We were founded in November 2019 as a Delaware corporation under the name RBNC Therapeutics, Inc. We changed our name to Neumora Therapeutics, Inc. in October 2021. Our principal executive offices are located at 490 Arsenal Way, Suite 200, Watertown, Massachusetts. In 2020, we acquired Abelian Therapeutics, Inc. (Abelian), BlackThorn Therapeutics, Inc. (BlackThorn), Syllable Life Sciences, Inc. (Syllable), Propellex Bio, Inc. (Propellex) and Alairion, Inc. (Alairion), each of which became our wholly owned subsidiary. As of June 30, 2023, we had dissolved Abelian, BlackThorn, Syllable, Propellex and Alairion. Neumora Therapeutics, Inc. (NMRA) is classified as a small-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Henry O. Gosebruch. With a market capitalization of $380M, NMRA is one of the notable companies in the Healthcare sector.

Neumora Therapeutics, Inc. (NMRA) Stock Rating — Reduce (April 2026)

As of April 2026, Neumora Therapeutics, Inc. receives a Reduce rating with a composite score of 31.7/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.NMRA ranks #3,615 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Neumora Therapeutics, Inc. ranks #580 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

NMRA Stock Price and 52-Week Range

Neumora Therapeutics, Inc. (NMRA) currently trades at $2.05. The stock lost $0.03 (1.5%) in the most recent trading session. The 52-week high for NMRA is $3.65, which means the stock is currently trading -43.9% from its annual peak. The 52-week low is $0.61, putting the stock 235.4% above its annual trough. Recent trading volume was 765K shares, suggesting relatively thin trading activity.

Is NMRA Overvalued or Undervalued? — Valuation Analysis

Neumora Therapeutics, Inc. (NMRA) carries a value factor score of 13/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 3.73x, versus the sector average of 2.75x.

At current multiples, Neumora Therapeutics, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Neumora Therapeutics, Inc. Profitability — ROE, Margins, and Quality Score

Neumora Therapeutics, Inc. (NMRA) earns a quality factor score of 24/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -240.7%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -130.9% versus the sector average of -33.1%.

Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

NMRA Debt, Balance Sheet, and Financial Health

Neumora Therapeutics, Inc. has a debt-to-equity ratio of 52.0%, compared to the Healthcare sector average of 32.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 5.87x, indicating strong short-term liquidity. Total debt on the balance sheet is $55M. Cash and equivalents stand at $129M.

NMRA has a beta of 1.41, meaning it is more volatile than the broader market — a $10,000 investment in NMRA would be expected to move 40.9% more than the S&P 500 on any given day. The stability factor score for Neumora Therapeutics, Inc. is 22/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Neumora Therapeutics, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Neumora Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-1.45. Net income for the quarter was $-250M. Operating income came in at $-259M.

In FY 2025, Neumora Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-1.45. Net income for the quarter was $-237M. Operating income came in at $-241M.

In Q3 2025, Neumora Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.35. Net income for the quarter was $-57M. Operating income came in at $-58M.

In Q2 2025, Neumora Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.33. Net income for the quarter was $-53M. Operating income came in at $-54M.

Over the past 8 quarters, Neumora Therapeutics, Inc. has experienced revenue contraction from $0 to $0. Investors analyzing NMRA stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

NMRA Dividend Yield and Income Analysis

Neumora Therapeutics, Inc. (NMRA) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

NMRA Momentum and Technical Analysis Profile

Neumora Therapeutics, Inc. (NMRA) has a momentum factor score of 68/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 8/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

NMRA vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Neumora Therapeutics, Inc. (NMRA) ranks #580 out of 838 stocks based on the Blank Capital composite score. This places NMRA in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing NMRA against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full NMRA vs S&P 500 (SPY) comparison to assess how Neumora Therapeutics, Inc. stacks up against the broader market across all factor dimensions.

NMRA Next Earnings Date

No upcoming earnings date has been announced for Neumora Therapeutics, Inc. (NMRA) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy NMRA? — Investment Thesis Summary

The quantitative profile for Neumora Therapeutics, Inc. suggests caution. The quality score of 24/100 flags below-average profitability. The value score of 13/100 indicates premium valuation. Price momentum is positive at 68/100, suggesting the trend favors buyers. High volatility (stability score 22/100) increases portfolio risk.

In summary, Neumora Therapeutics, Inc. (NMRA) earns a Reduce rating with a composite score of 31.7/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on NMRA stock.

Related Resources for NMRA Investors

Explore more research and tools: NMRA vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare NMRA head-to-head with peers: NMRA vs AZN, NMRA vs SLGL, NMRA vs VMD.