Neumora Therapeutics, Inc. (NMRA) AI Stock Analysis

Neumora Therapeutics, Inc.

(NASDAQ:NMRA)

Select Model

Rating:41Neutral

Price Target:$0.37▲(1.09% Upside)

Action:reiterated

Date:10/30/26

The score is held down primarily by weak financial performance (pre-revenue, sizeable ongoing losses, and heavy negative free cash flow) and a bearish technical setup (price below key moving averages with negative MACD). Additional pressure comes from the Nasdaq bid-price compliance warning, while low debt and reported cash runway offer only limited offset.

Positive Factors

Minimal leverageVery low debt limits interest obligations and borrowing-related financial risk, giving Neumora more flexibility as it funds clinical development. This balance-sheet feature can help preserve strategic options during periods of uncertain trial outcomes, although it does not offset the company’s operating losses.

Negative Factors

Pre-revenue business modelNeumora has no commercial revenue base and continues to report substantial net losses, leaving its financial profile dependent on research progress rather than recurring product sales. Until a program reaches commercialization, the company lacks operating income to internally fund ongoing development.

Neumora Therapeutics, Inc. (NMRA) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $69.00M
Dividend Yield: ―
Average Volume (3M): 1.45M
Price to Earnings (P/E): -0.3
Beta (1Y): 2.24
Revenue Growth: ―
EPS Growth: 21.31%
Country: US
Employees: 63
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Neumora Therapeutics, Inc. Business Overview & Revenue Model

Company Description

Neumora Therapeutics, Inc. is a specialized biopharmaceutical company progressing through clinical trials, dedicated to advancing therapies for a range of neurological, psychiatric, and neurodegenerative conditions. Its most advanced candidate, navac...

Neumora Therapeutics, Inc. Earnings Call Summary

Earnings Call Date:Mar 29, 2026(Q4-2025)|% Change Since:-84.25%|Next Earnings Date:Nov 03, 2026

Earnings Call SentimentPositive

The call conveyed strong scientific and clinical momentum across several programs with multiple near-term catalysts (NMRA-511, navacaprant KOASTAL-2/3, NMRA-898) and compelling preclinical/early clinical data (notably NMRA-511 effect sizes and NMRA-215 DIO results). However, a non-dose-dependent adverse signal in a 13-week rat tox study for NMRA-215, associated study conduct issues and the need to repeat toxicology introduce timeline, regulatory and cost risk for that program. Financial runway of $182.5M into Q3 2027 is adequate for the near term but will require careful capital allocation as multiple programs advance. Overall, positives on pipeline progress and enrollments outweigh the headwinds from the NMRA-215 tox delay and finite cash runway, but risks remain tied to upcoming pivotal readouts.

Positive Updates

Strong Clinical Momentum and Multiple Near-Term Catalysts

Company highlighted a catalyst-rich 12 months with multiple expected readouts: KOASTAL-2/3 topline data in Q2 2026, NMRA-511 MAD extension data in H2 2026, NMRA-898 MAD data in H2 2026, and planned clinical entry for NMRA-215 in Q1 2027 (now delayed due to tox retest). Management emphasized differentiated mechanisms and brain-penetrant chemistry across the pipeline.

Negative Updates

NMRA-215 13-Week Rat Toxicology Findings Causing Delay

Unexpected adverse findings observed in a small number of animals in a 13-week rat toxicology study. Findings were described as not dose-dependent and not associated with a known molecule-related/on-target effect, but occurred alongside documented study conduct issues. A for-cause audit has been opened, a repeat 13-week rat study has been initiated with a different CRO, and clinical entry for NMRA-215 is now expected in Q1 2027 (i.e., delayed).

Company Guidance

Neumora guided to a catalyst-rich 12–18 month period: NMRA-511 will report MAD extension data in H2 2026 and plans to start a Phase II in Q1 2027 (Phase Ib prespecified subgroup n=53 showed a Cohen’s d of ~0.32–0.34 on CMAI with no somnolence/sedation); navacaprant’s KOASTAL‑2 and KOASTAL‑3 are fully enrolled (more than 400 patients each) with a joint top‑line readout expected in Q2 2026 and prespecified/post‑pause analyses covering >450 patients after protocol optimizations (screen‑fail rate ~10% higher vs KOASTAL‑1); M4 PAM lead NMRA‑898 (half‑life ~80–100 hours) will report MAD data in H2 2026; NMRA‑215 showed class‑leading 12‑week DIO results (combination ~23% weight reduction and semaglutide‑comparable maintenance) but a repeat 13‑week rat tox study has been initiated after unexpected findings in a small number of animals, and the company now expects first‑in‑human dosing in Q1 2027; financials: $182.5M cash and equivalents as of 12/31/2025, expected runway into Q3 2027, and 2025 net loss comparable to 2024.

Neumora Therapeutics, Inc. Financial Statement Overview

Summary

Financials are weak overall: the company is pre-revenue with large, persistent losses and materially negative operating/free cash flow (TTM operating cash flow and free cash flow both -$180.5M). The main offset is very low leverage (minimal total debt), but shrinking equity and ongoing cash burn keep the financial performance score low.

Income Statement

12Very Negative

Balance Sheet

56Neutral

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	-5.01M	-5.00M	0	-668.00K	0	0
EBITDA	-207.13M	-233.37M	-242.98M	-234.99M	-130.31M	-236.77M
Net Income	-212.75M	-236.93M	-243.79M	-235.93M	-130.90M	-237.31M
Balance Sheet
Total Assets	125.25M	191.05M	316.97M	496.19M	426.23M	429.30M
Cash, Cash Equivalents and Short-Term Investments	116.83M	182.53M	307.58M	453.98M	371.88M	409.25M
Total Debt	340.00K	477.00K	1.85M	5.23M	8.44M	2.05M
Total Liabilities	80.73M	87.18M	29.91M	27.12M	873.08M	754.52M
Stockholders Equity	44.52M	103.87M	287.06M	469.08M	-446.85M	-325.22M
Cash Flow
Free Cash Flow	-180.52M	-206.44M	-182.94M	-163.40M	-115.41M	-76.24M
Operating Cash Flow	-180.52M	-206.44M	-182.94M	-163.28M	-114.90M	-75.42M
Investing Cash Flow	94.03M	168.52M	-70.56M	64.39M	-168.01M	-817.00K
Financing Cash Flow	78.80M	77.09M	21.60M	231.94M	115.74M	293.51M

Neumora Therapeutics, Inc. Technical Analysis

Technical Analysis SentimentNegative

Last Price0.37

Price Trends

50DMA0.79Negative

100DMA1.20Negative

200DMA1.78Negative

Market Momentum

MACD-0.11Negative

RSI28.80Positive

STOCH17.59Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NMRA, the sentiment is Negative. The current price of 0.37 is below the 20-day moving average (MA) of 0.43, below the 50-day MA of 0.79, and below the 200-day MA of 1.78, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 28.80 is Positive, neither overbought nor oversold. The STOCH value of 17.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NMRA.

Neumora Therapeutics, Inc. Risk Analysis

Neumora Therapeutics, Inc. disclosed 79 risk factors in its most recent earnings report. Neumora Therapeutics, Inc. reported the most risks in the "Tech & Innovation" category.

Tech & Innovation - Risks related to the company’s reliance on technology and ability to make innovative products

Latest Risks Added

0 New Risks

Neumora Therapeutics, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

NMRA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ALLO	50Neutral	$407.68M	-1.76	-50.04%	―	―	40.16%
ACIU	46Neutral	$225.94M	-4.25	-99.17%	―	-33.68%	4.48%
AARD	45Neutral	$29.76M	-0.42	-71.54%	―	―	-89.45%
ABEO	45Neutral	$248.75M	-3.83	-41.69%	―	6280.00%	-212.54%
NMRA	41Neutral	$69.00M	-0.30	-242.28%	―	―	21.31%

* Healthcare Sector Average

Performance Comparison

NMRA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NMRA	Neumora Therapeutics, Inc.	0.37	-2.64	-87.81%
ABEO	Abeona Therapeutics Inc	4.35	-0.43	-9.00%
ACIU	AC Immune	2.22	-0.96	-30.19%
ALLO	Allogene Therapeutics	1.18	0.00	0.00%
AARD	Aardvark Therapeutics, Inc.	1.36	-9.03	-86.91%

Neumora Therapeutics, Inc. Corporate Events

Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split

Neumora Therapeutics Faces Nasdaq Minimum Bid Price Warning

Negative

Oct 30, 2026

On October 26, 2026, Neumora Therapeutics received notice from Nasdaq that its common stock no longer meets the $1.00 minimum bid price requirement for continued listing on the Nasdaq Global Select Market. The company has 180 calendar days, until Apr...

Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures

Neumora Therapeutics Announces CEO Transition and Q2 Results

Positive

Aug 14, 2026

On August 14, 2026, Neumora Therapeutics reported second-quarter 2026 results with a reduced net loss of $43.1 million, driven by lower clinical trial and personnel costs, while cash and equivalents of $116.8 million are expected to support operation...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 30, 2026

Neumora Therapeutics, Inc. AI Stock Analysis