Neumora Therapeutics is cutting its staff by 35% following Phase III trial failures of its multiple depressive disorder (MDD) candidate.
The Phase III KOASTAL-2 and -3 studies of navacaprant for the treatment of MDD did not achieve statistical significance on the primary or key secondary endpoints.
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“While we are disappointed with the results of the KOASTAL-2 and -3 studies, we want to extend our gratitude to the patients, families, dedicated investigators, Neumora team and others who contributed meaningfully to the KOASTAL programme,” said Bill Aurora, chief operating and development officer at Neumora.
Based on these failures, plus a previous study that did not meet its endpoints, Neumora will discontinue development of navacaprant.
The KOASTAL-2 and -3 studies enrolled 430 and 422 adult patients with MDD, respectively.
The primary endpoint of both KOASTAL-2 and -3 was change from baseline (CFB) to week 6 on the Montgomery-Åsberg Depression Rating Scale (MADRS).
In the KOASTAL-2 study, patients treated with navacaprant demonstrated a similar CFB to those treated with placebo. Meanwhile, in the KOASTAL-3 study, patients treated with navacaprant demonstrated a numerically lower CFB than those treated with placebo.
Navacaprant was shown to be safe and generally well-tolerated with a safety profile consistent with prior studies.
This data follows the KOASTAL 1 study, which Neumora also confirmed did not achieve statistical significance, as per a readout in January 2026.
Neumora does have other candidates in trials, including NMRA-511, a V1a receptor antagonist for Alzheimer’s disease agitation, NMRA-898, a M4 positive allosteric modulator for schizophrenia and NMRA-215, a NLRP3 inhibitor for obesity.
Neumora also announced that it will reduce its workforce by approximately 35%, which it expects to result in an annualised cost savings of approximately $10m, partially offset by one-time restructuring costs of approximately $2m.
Following the announcement of the staff cuts and the discontinuation, Neumora’s stock dropped 46% from a 12 June close of $1.78 to a 16 June open of $0.95, with no real improvement throughout the day.
GlobalData estimates that drug sales for MDD in 2019 were approximately $4.73bn across the eight major markets (8MM: US, France, Germany, Italy, Spain, UK, Japan, and Canada). The US market made up the majority of total global sales, contributing $3.35bn.
GlobalData anticipates that the MDD market will grow to be worth approximately $9.55bn by 2029, with the US expected to maintain its position as the market leader, increasing the proportion of global sales it accounts for to 84.7%
GlobalData is the parent company of Clinical Trials Arena.
