Summary of Neumora Therapeutics Conference Call Company Overview - **Company**: Neumora Therapeutics (NasdaqGS: NMRA) - **Event**: Guggenheim Emerging Outlook Biotech Summit, 2026 - **Date**: February 11, 2026 Key Points Industry and Product Focus - Neumora is focused on developing NMRA-511, a treatment for agitation in Alzheimer's disease (AD) [2][3] - The company is also exploring NLRP3 inhibitors for obesity and other indications [24][26] Clinical Data and Efficacy - NMRA-511 showed a significant clinical effect in a phase 1B study for AD agitation, achieving a 20.1-point reduction on the CMAI total score at week 8, with a Cohen's D effect size of 0.51-0.64 [5] - The CMAI aggression subfactor score for elevated anxiety populations had a robust effect size of 0.82 [6] - The CGI-S agitation score indicated a clinical effect size of 0.78 at week 6 and 0.38 at week 8, supporting the drug's potential [7] - NMRA-511 demonstrated a favorable safety and tolerability profile, allowing for higher dose testing planned for 2026 [8] Future Development Plans - Neumora plans to initiate a MAD extension cohort for NMRA-511 in 2026, transitioning to a QD extended-release formulation [9] - A pivotal phase 2/3 program is expected to start in 2027 [9] Market Opportunity - Approximately 60%-70% of Alzheimer's patients experience agitation and anxiety, indicating a significant market opportunity for NMRA-511 [10][11] - The company aims to enrich patient populations in pivotal studies to enhance treatment efficacy [11] Competitive Landscape - Competitors include Newleos and Azevan, which are also exploring treatments for anxiety and agitation [19] - Neumora's NMRA-511 is positioned as having a differentiated efficacy and safety profile compared to existing treatments like REXULTI and AUVELITY [8] Safety and Tolerability - No significant safety concerns were reported, with only minor cases of headache and one SAE related to hyponatremia deemed confounded by other factors [21][22] Financial Position - Neumora's current cash position is expected to support operations into the third quarter of 2027, covering all discussed catalysts [48] Other Programs - Neumora is advancing two M4 PAM compounds (NMRA-861 and NMRA-898) in phase 1 studies, with updates expected mid-2026 [40][44] - The company is also working on the KOASTAL program for navacaprant, with data readouts expected in the second quarter of 2026 [45][47] Conclusion Neumora Therapeutics is making significant strides in developing NMRA-511 for Alzheimer's disease agitation, with promising clinical data and a clear path for future studies. The company is well-positioned in a growing market, with a solid financial foundation to support its ongoing and future programs.

Evan Seager is head of healthcare research at Beimo. He's only got a market perform on Novo. He says this is a big win, but sees a challenged road ahead.He's here on set with us. First of all, welcome. >> Thank you for having me.It's great to be here despite the weather. >> Yes. And as you say, despite this having been a total hold on for dear life year for healthcare broadly, but a nice finish.No, I mean, go back to the summer when you had the health insurers, you know, collapsing and all this stuff going ...

YupCrémieux (@cremieuxrecueil):Humanity has so thoroughly banished hunger that, as of this year, there are more obese kids than there are underweight kids. https://t.co/pfIgXaeFtl ...

Novo Nordisk is planning a large study of its next-generation obesity shot CagriSema in children, a sign the drugmaker is pressing forward with the compound despite disappointing results in other trials https://t.co/b9k8DzPdZ9 ...

Our next guest says potentially strong data could put pressure on Lily shares. For more, let's bring in Kessive Capital managing director Len Yaffy. Len, great to have you with us. Good to see you.>> Thank you so much. >> So, we're expecting a couple of readouts on Marit Amgen's drug. Len, so what what's the scenario here.The the data is good. And what do you characterize as good and what does that mean. I think the key with maritide and this is part two of a phase two study is what is the incidence if we l ...

There’s a rapidly intensifying battle underway for Metsera, a three-year-old obesity startup working on experimental treatments in one of the hottest areas in medicine https://t.co/cK9b4OS7jU ...

Market Access & Coverage - Zepbound, a medicine for obesity and overweight, has been inaccessible to many due to cost, highlighting the need for coverage [1] - A new agreement enables coverage for medications like Zepbound for $50 per month, starting next spring [2] - Currently, Medicare beneficiaries pay $500 per month for Zepbound through direct platforms; the new program reduces this cost by 90% to $50 per month [3] Pricing & Affordability - The company defends its pricing strategy by noting that medical products are typically subsidized through medical benefits, from which obesity treatments have historically been excluded [4] - The inclusion of effective and safe obesity medications in medical benefits is advocated, alongside offering better deals to insurance companies [5]

So, good news for some of you, but what does it mean for Lily and Novo Nordis. Ask Jared Holtz. He is healthc care strategist at Mizuo.Jared, great news for for millions of people that have been struggling with with their weight for years. But what does it mean for these companies bottom lines. >> Hey, Brian, thanks for having me.I I think when I take a step back, it it's probably more positive than negative. I think investors have been thinking and sort of modeling negative price for this category for a wh ...

Metsera’s next-generation weight-loss drug showed good tolerability with few participants dropping out of a mid-stage trial, adding to the obesity company’s appeal as two industry giants fight over who will buy it https://t.co/8SLoMXCzlq ...

Key Products & Market Performance - Tzepide and Mjaro (Zepbound) achieved market leadership in the US for both diabetes and obesity, driven by strong international performance [2] - Mangaro rollout in China, Brazil, and India indicates strong global demand [3] - Oral pill orforglipron is completing Phase 3 program with submission in Q4, aiming for broad global rollout [4][6] Pipeline & Clinical Trials - Oral pill offers a less intrusive alternative to injections, potentially appealing to those reaching their weight target [8] - Retatrutide, a triple-acting agent, shows promise for even greater weight loss than Zepbound or Mounjaro, with initial study focused on knee pain [10] - Studies are exploring the effects of weight loss drugs on inflammation, chronic knee pain, and addictive properties in the brain [11][12] Strategic Outlook - The company anticipates continued FDA approvals, supported by user fees, despite potential government shutdowns [7] - The company has built a head inventory to introduce orforglipron around the world [8] - The company is exploring additional indications beyond weight loss, such as knee pain and back pain, targeting a larger patient population [9][10]