Neumora Therapeutics(US:NMRA) Prnewswire·2025-02-20 22:15Core Viewpoint - Neumora Therapeutics, Inc. is facing a class action lawsuit related to its IPO, alleging violations of the Securities Act of 1933 due to misleading information regarding its clinical trials and subsequent stock performance [1][3][4]. Company Overview - Neumora Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases [2]. - The company acquired its flagship therapeutic candidate, Navacaprant, through the acquisition of BlackThorn Therapeutics, Inc. in September 2020 [2]. IPO Details - Neumora conducted its initial public offering (IPO) on September 15, 2023, selling 14.7 million shares at a price of $17.00 per share [2]. - Following the IPO, the stock price has significantly declined, reaching a closing price of $1.91 per share on February 5, 2025, representing an 88.7% decrease from the IPO price [4]. Allegations in the Lawsuit - The lawsuit claims that the IPO offering documents were materially false and misleading, particularly regarding the Phase Two Trial inclusion criteria and the adequacy of data for predicting results in the KOASTAL-1 study [3]. - It is alleged that Neumora had to amend the original Phase Two Trial criteria to include a patient population with moderate to severe major depressive disorder to justify its Phase Three Program [3]. - The company disclosed on January 2, 2025, that the KOASTAL-1 study failed to show a statistically significant improvement on key endpoints, which contributed to the decline in stock value [4]. Legal Process - Investors who purchased Neumora common stock in connection with the IPO have until April 7, 2025, to seek appointment as lead plaintiff in the class action lawsuit [1][5]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [5].