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NMRA

Neumora Therapeutics, Inc. Common Stock

NMRA

Neumora Therapeutics, Inc. Common Stock • NASDAQ
$2.24 ▼ -2.18% (-0.05)
Market Cap $374.11 M
52w High $11.57
52w Low $0.61
Dividend Yield 0%
P/E -1.52
Volume 334.17K
Outstanding Shares 167.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $52.7M ▼ $-56.755M ▼ 0% $-0.35 ▼ $-55.985M ▼
Q2-2025 $0 $54.04M ▼ $-52.731M ▲ 0% $-0.33 ▲ $-54.021M ▲
Q1-2025 $0 $70.936M ▲ $-67.992M ▼ 0% $-0.42 ▼ $-70.779M ▼
Q4-2024 $0 $62.922M ▼ $-58.819M ▲ 0% $-0.37 ▲ $-62.765M ▲
Q3-2024 $0 $76.646M $-72.547M 0% $-0.45 $-76.49M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $171.525M ▼ $177.833M ▼ $45.672M ▲ $132.161M ▼
Q2-2025 $217.588M ▼ $223.825M ▼ $40.946M ▲ $182.879M ▼
Q1-2025 $249.353M ▼ $256.748M ▼ $28.384M ▼ $228.364M ▼
Q4-2024 $307.578M ▼ $316.972M ▼ $29.908M ▼ $287.064M ▼
Q3-2024 $341.307M $352.537M $31.798M $320.739M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-56.755M ▼ $-46.633M ▲ $51.317M ▲ $-136K ▼ $4.548M ▲ $-46.649M ▲
Q2-2025 $-52.731M ▲ $-52.404M ▲ $30.397M ▼ $18.457M ▲ $-3.55M ▲ $-52.404M ▲
Q1-2025 $-67.992M ▼ $-59.448M ▼ $44.16M ▲ $0 ▼ $-15.288M ▲ $-59.448M ▼
Q4-2024 $-58.819M ▲ $-50.34M ▼ $-98.799M ▼ $15.573M ▲ $-133.566M ▼ $-50.34M ▼
Q3-2024 $-72.547M $-33.483M $156.988M $1.531M $125.036M $-33.483M

Five-Year Company Overview

Income Statement

Income Statement Neumora is still a pure R&D story with essentially no product revenue so far. The income statement shows recurring operating and net losses every year, reflecting heavy spending on research, clinical trials, and overhead without any offsetting sales. Losses have generally grown as the company has scaled up its pipeline and public-company infrastructure. This is typical for a clinical‑stage biotech but means results are driven by R&D progress and trial outcomes, not by business operations yet.

Balance Sheet

Balance Sheet The balance sheet is dominated by cash and other liquid assets, with only minimal financial debt. Equity swung from negative a few years ago to positive more recently, which likely reflects capital raises and the IPO shoring up the company’s financial foundation. Overall, Neumora appears to have a solid capital base relative to its current stage, but it remains highly dependent on that cash to fund ongoing R&D, as there is no operating income to replenish it.

Cash Flow

Cash Flow Neumora consistently uses cash rather than generates it. Operating cash flow is meaningfully negative, driven by R&D and clinical development costs, and free cash flow tracks closely because capital spending is modest. The company’s cash burn has increased over time as the pipeline and organization have expanded. Current cash levels provide a runway for near‑term plans, but, unless spending falls or partnerships grow, additional capital raises are likely to be a recurring theme over the medium term.

Competitive Edge

Competitive Edge Neumora is trying to differentiate itself in one of the hardest areas of biotech: brain and psychiatric disorders, where many drugs fail late in development. Its edge is a data‑driven “precision neuroscience” approach, aiming to choose patients more carefully so trials have a better chance of success. A broad pipeline across depression, schizophrenia, Alzheimer’s‑related symptoms, and metabolic disease, plus a genetics and data partnership with Amgen, adds depth. At the same time, the company is small versus large pharma peers, its approach is still unproven in late‑stage trials, and the recent failure of a key Phase 3 depression study underlines how fragile competitive momentum can be in this field.

Innovation and R&D

Innovation and R&D Innovation is the clear focus. Neumora is building AI‑powered tools (Data Biopsy Signatures and Precision Phenotypes) to match drugs to specific patient subgroups and is advancing several first‑ or best‑in‑class mechanisms, including its lead depression drug, muscarinic modulators for schizophrenia, a treatment for agitation in Alzheimer’s disease, and an NLRP3 inhibitor for obesity. The breadth of programs spreads scientific risk, and upcoming data readouts should provide many checkpoints on progress. However, the miss in the first large navacaprant trial highlights that even sophisticated platforms face high biological uncertainty, and the company still needs to demonstrate that its precision tools can reliably translate into better clinical outcomes.

Summary

Neumora is an early‑stage neuroscience biotech with no commercial revenue, steady operating losses, and a balance sheet currently anchored by a sizable cash position and little debt. The story is driven almost entirely by R&D: a sophisticated data‑centric platform, a diversified pipeline in high‑need brain and metabolic disorders, and multiple clinical readouts on the horizon. The recent disappointment in its lead depression program’s first Phase 3 trial raises both scientific and execution risk and makes future trial results even more important. Overall, this is a high‑uncertainty, research‑heavy profile where the company’s value will depend on its ability to convert promising platform science into clear, repeatable clinical successes before its cash resources are meaningfully depleted.

NEWS

November 6, 2025 · 7:00 AM UTC

Neumora Therapeutics Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 3, 2025 · 7:00 AM UTC

Neumora Therapeutics to Participate in Upcoming Conferences in November

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October 27, 2025 · 7:00 AM UTC

Neumora Therapeutics Announces Initiation of Phase 1 Clinical Study of M4 Positive Allosteric Modulator NMRA-898

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October 27, 2025 · 6:30 AM UTC

Neumora Therapeutics Announces Class-Leading Weight Loss Demonstrated with NMRA-215 in Preclinical Diet-Induced Obesity Model

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October 1, 2025 · 7:00 AM UTC

Neumora Therapeutics to Host Virtual R&D Day on October 27

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