NEUP Stock — Neuphoria Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are currently conducting limited active internal research and development activities focused on our alpha7 nicotinic acetylcholine receptor negative allosteric modulator portfolio. Our lead product candidate, BNC210, is an oral, proprietary, selective negative allosteric modulator of the alpha7 nicotinic acetylcholine receptor.

Source: 10-K FY2026 via SEC EDGAR

Share price

$2.78

Market cap

$15.0M

Cash

$19.9M

Enterprise value

-$4.9M

Balance sheet

Cash	$19.9M
Debt	$0.0M
Net cash	$19.9M
Enterprise value	-$4.9M
Basic shares	5.4M shares
Fully diluted shares	6.6M shares
Fully diluted market cap	$18.4M
Cash per share	$3.67
Quarterly burn	+$1.2M generated

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

5.4M

Pre-funded warrants

0.0M

Options

0.1M

RSUs

0.0M

Warrants

1.1M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

6.6M

Cap table as of 2026-09-17.

Price history

Loading NEUP daily closes…

Loading price history…

Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

BNC210

Phase 2 · Active Modality: small molecule

Target alpha7 receptor

Indications

Post-traumatic stress disorder (PTSD) (Phase 2)

Status note Lead product candidate; oral, proprietary, selective negative allosteric modulator (NAM) of the alpha7 receptor for chronic PTSD treatment. Program PAUSED (BNC210 SAD program discontinued; PTSD program paused) while the company undertakes a comprehensive strategic review: all but one employee terminated, facility leases terminated, R&D activities cancelled or paused, seeking a merger/partner. Planned Phase 3 in PTSD on hold.

Merck-partnered cognitive dysfunction program (unnamed)

Phase 2 · Active

Target α7 nAChR

Partnerships Merck & Co: research and license agreement to develop compounds targeting cognitive dysfunction in Alzheimer's and other CNS conditions; $15M milestone received March 2025 on first dosing in a Phase II clinical trial

Indications

Cognitive dysfunction associated with Alzheimer's disease (Phase 2)

Status note Out-licensed program; development conducted by the collaboration partner. Filing states no candidate name.

Per-asset detail extracted from the 10-Q filed 2026-05-15. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Ikarian Capital	47,443	no change	0.03%	2026-08-14
ADAR1 Capital Management	30,000	no change	0.01%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

Loading headlines…

Headlines from the Fully Diluted live wire: IR newsrooms, newswires, SEC filings, and halt notices, refreshed every 15 minutes.

NEUP — Neuphoria Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

NEUP — Neuphoria Therapeutics Inc.