SAN DIEGO, Feb. 26, 2025 /PRNewswire/ — Robbins LLP reminds stockholders that a class action was filed on behalf of all persons or entities who purchased or otherwise acquired Neumora Therapeutics, Inc. (NASDAQ: NMRA) common stock pursuant to the Offering Documents issued in connection with the Company’s initial public offering (“IPO”) on September 15, 2023. Neumora is a clinical-stage biopharmaceutical company.
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The Allegations: Robbins LLP is Investigating Allegations that Neumora Therapeutics, Inc. (NMRA) Misled Investors in the Offering Documents in Support of its IPO
According to the complaint, the Offering Documents failed to disclose or misrepresented facts regarding the prospects of Navacaprant (the Company’s flagship candidate aimed at treating major depressive disorder (MDD)) as a monotherapy, including: (1) in order for Neumora to justify conducting its Phase Three Program, Neumora was forced to amend BlackThorn’s original Phase Two Trial inclusion criteria to include a patient population with moderate to severe MDD to show that Navacaprant offered a statistically significant improvement in treating MDD; (2) and to that same end, the Company also added a prespecified analysis to the Phase Two statistical analysis plan, focusing on patients suffering from moderate to severe MDD; and (3) the Phase Two Trials lacked adequate data, particularly in regards to the patient population size and the ratio of male to female patients within the patient population, to be able to accurately predict the results of the KOASTAL-1 study.
The complaint alleges that on January 2, 2025, the undisclosed adverse facts became known when Neumora issued a press release announcing the results from the KOASTAL-1 study of Navacaprant for the treatment of moderate to severe MDD. The press release revealed that the KOASTAL-1 study failed to “demonstrate a statistically significant improvement on the primary endpoint of change from baseline in the Montgomery-Åsberg Depression Rating Scale (‘MADRS’) total score at Week 6 or the key secondary endpoint of a change from baseline in the Snaith-Hamilton Pleasure Scale (‘SHAPS’) scale.”
Since the IPO, the value of Neumora common stock has declined substantially from the IPO price of $17 per share to a closing price of $1.91 per share on February 5, 2025, an 88.7% decline from the IPO price).
What Now: You may be eligible to participate in the class action against Neumora Therapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class must file papers with the court by April 7, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP