NMRA Stock — Neumora Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company founded to confront the greatest medical challenges of our generation by bringing forward the next generation of novel therapies with brain-penetrant chemistry that offer improved treatment outcomes and quality of life for patients.

Source: 10-K FY2025 via SEC EDGAR

Share price

$0.50

Market cap

$94.6M

Cash

$116.8M

Enterprise value

$30.7M

Balance sheet

Cash	$116.8M
Debt	$52.9M
Net cash	$63.9M
Enterprise value	$30.7M
Basic shares	187.9M shares
Fully diluted shares	219.6M shares
Fully diluted market cap	$109.8M
Cash per share	$0.62
Quarterly burn	$39.5M
Cash runway	3.0 quarters

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

Share structure

Common

187.9M

Pre-funded warrants

0.0M

Options

31.7M

RSUs

0.0M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

219.6M

Cap table as of 2026-06-30.

Price history

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Next catalyst

NMRA-898 · Est. Nov 7, 2026 · half midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 7, 2026 Now half midpoint	NMRA-898 NMRA-898 Phase 1 MAD study	Phase 1	Not disclosed	2H 2026
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	NMRA-511 NMRA-511 MAD expansion cohort in healthy elderly participants	Not disclosed	healthy elderly participants	Q4 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

navacaprant

Phase 3 · Terminated Modality: small molecule (oral)

Target kappa opioid receptor (KOR)

Partnerships The Scripps Research Institute (TSRI; exclusive license via BlackThorn acquisition)

Indications

Major depressive disorder (MDD) (Phase 3)

Status note Kappa opioid receptor antagonist investigated in the KOASTAL pivotal Phase 3 program in moderate to severe MDD. Following Phase 3 KOASTAL program results in June 2026, the company is discontinuing development of navacaprant in MDD.

NMRA-511

Phase 1 · Active Modality: small molecule (oral)

Target vasopressin 1a receptor (V1aR)

Partnerships The Scripps Research Institute (TSRI; exclusive license via BlackThorn acquisition)

Indications

Alzheimer's disease agitation (Phase 1)

Catalysts

— second half of 2026
— first quarter of 2027

Status note V1aR antagonist. Phase 1b results reported Q1 2026; MAD expansion cohort evaluating higher doses expected to report data H2 2026.

NMRA-898

Phase 1 · Active Modality: small molecule (oral)

Target muscarinic acetylcholine receptor M4 (M4 PAM)

Partnerships Vanderbilt University (exclusive worldwide license; Warren Center for Neuroscience Drug Discovery)

Indications

Schizophrenia (Phase 1)

Catalysts

— second half of 2026

Status note M4 muscarinic receptor positive allosteric modulator; Phase 1 MAD study ongoing.

NMRA-861

Stage not disclosed · Active Modality: small molecule

Target muscarinic acetylcholine receptor M4 (M4 PAM)

Partnerships Vanderbilt University (exclusive worldwide license)

Indications

Neuropsychiatric disorders (Stage not disclosed)

Status note M4 muscarinic receptor positive allosteric modulator; part of the M4 franchise with NMRA-898.

NMRA-215

Stage not disclosed · Active Modality: small molecule (oral)

Target NLRP3

Indications

Obesity (Stage not disclosed)
Cardiovascular risk (Stage not disclosed)

Status note Oral NLRP3 inhibitor.

NMRA-GCase

Preclinical · Active

Target glucocerebrosidase (GCase)

Partnerships Amgen (exclusive worldwide license to compounds directed to glucocerebrosidase)

Indications

Neurodegenerative diseases (Preclinical)

Status note Preclinical program directed to glucocerebrosidase for neurodegenerative diseases.

NMRA-CK1δ

Stage not disclosed · Active Modality: small molecule

Target casein kinase 1 delta (CK1δ)

Partnerships Amgen (exclusive worldwide license to compounds directed to casein kinase 1 delta)

Indications

Amyotrophic lateral sclerosis (ALS) (Stage not disclosed)

Status note Program directed to CK1 delta for TDP-43-driven pathology.

Per-asset detail extracted from the 10-Q filed 2026-08-14. 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
OrbiMed Advisors	2,139,882	+2,139,882	0.07%	2026-08-14
Boxer Capital	2,000,000	+2,000,000	0.26%	2026-08-14
Ikarian Capital	1,278,408	no change	0.36%	2026-08-14
ADAR1 Capital Management	210,000	+176,900	0.02%	2026-08-14
Perceptive Advisors	0	-5,104,097	0.00%	2026-08-14
Tang Capital Partners	0	-439,878	0.00%	2026-08-14
DAFNA Capital	0	-70,000	0.00%	2026-08-14
Stonepine Capital	0	-100,000	0.00%	2026-08-17

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

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NMRA — Neumora Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

NMRA — Neumora Therapeutics Inc.