Exhibit 99.1
Neumora Therapeutics Reports Third Quarter 2023 Financial Results and Provides Business Update
Navacaprant Phase 3 KOASTAL program in major depressive disorder on track; planned initiation of Phase 2 bipolar depression trial in 1H24
Progressing NMRA-511 and NMRA-266 toward near-term
clinical milestones and advancing multiple preclinical neuropsychiatric and neurodegeneration programs
Strong balance sheet with
$519.5 million in cash, cash equivalents and marketable securities expected to support operations into 2026
WATERTOWN, MA,
November 1, 2023 Neumora Therapeutics, Inc. (Nasdaq: NMRA), a clinical-stage biopharmaceutical company redefining neuroscience drug development, today announced financial results for the third quarter
ended September 30, 2023 and provided a general business update.
The third quarter of 2023 was momentous for Neumora with the achievement of
several important clinical and corporate milestones, including our successful initial public offering and the initiation of our Phase 3 KOASTAL program for navacaprant. Additionally, we are on track to achieve the anticipated milestones for NMRA-511 and NMRA-266, said Henry Gosebruch, chief executive officer, Neumora. Looking forward, we have a strong balance sheet to support our continued focus on
execution across our programs as we seek to pioneer a new era in brain diseases, which collectively represent one of the largest areas of unmet medical need, affecting upwards of 1.5 billion patients globally. I believe that we have the right
combination of novel programs and capabilities to make a real difference for patients living with brain diseases and create significant value.
KEY PIPELINE HIGHLIGHTS
Neumora is advancing a
therapeutic pipeline of seven clinical and preclinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases.
Navacaprant (NMRA-140): Phase 3 KOASTAL Program On Track
Navacaprant (NMRA-140) is a highly selective, novel, once-daily kappa opioid receptor (KOR) antagonist being developed
as a potential monotherapy treatment for major depressive disorder (MDD) and other neuropsychiatric disorders.
Neumora initiated the KOASTAL-1 study, a Phase 3 pivotal clinical trial designed to evaluate the efficacy and safety of navacaprant monotherapy for the treatment of MDD. This study is part of Neumoras registrational Phase 3 KOASTAL
program, which includes the KOASTAL-1, KOASTAL-2, and KOASTAL-3 studies. These replicate, randomized, placebo-controlled,
double-blind studies are designed to evaluate the efficacy and safety of navacaprant monotherapy in adult patients with MDD.
The Company expects the
following milestones for navacaprant in MDD:
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Initiate KOASTAL-3 study in the fourth quarter of 2023.
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Initiate KOASTAL-2 study in the first quarter of 2024.
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Report topline data from the KOASTAL-1 study in the second half of 2024.
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Neumora also intends to evaluate the potential of navacaprant as treatment for other neuropsychiatric populations beyond MDD, including
bipolar depression (BPD). The Company expects to initiate a clinical trial in BPD in the first half of 2024.
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