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Brain disease biotech Neumora Therapeutics prices IPO at $17 midpoint

September 15, 2023

Neumora Therapeutics, a Phase 3 biotech developing therapies for neuropsychiatric indications, raised $250 million by offering 14.7 million shares at $17, within the range of $16 to $18.

The company's pipeline consists of seven clinical and preclinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases. Its lead candidate, navacaprant (NMRA-140), is a novel once-daily oral kappa opioid receptor (KOR) antagonist that is being developed for the treatment of major depressive disorder (MDD), which the company believes has the potential to provide significant advantages relative to the standard of care, if approved. Neumora is initiating a pivotal Phase 3 program for navacaprant monotherapy in patients with moderate to severe MDD and anticipates releasing topline results for the first of three efficacy studies in the 2H24.

Neumora Therapeutics plans to list on the Nasdaq under the symbol NMRA. J.P. Morgan, BofA Securities, Stifel, Guggenheim Securities, RBC Capital Markets, and William Blair acted as joint bookrunners on the deal.