Neumora Therapeutics (NMRA) R&D Day 2025 summary

Pipeline overview and program updates

• Advancing a broad neuroscience pipeline with seven programs targeting major depressive disorder, Alzheimer's agitation, schizophrenia, obesity, Parkinson's, and ALS, spanning preclinical to Phase 3 stages.

• Key programs include Navacaprant (KOR antagonist), NMRA-511 (V1aR antagonist), NMRA-861 and NMRA-898 (M4 modulators), and NMRA-215 (NLRP3 inhibitor), with clinical studies for NMRA-215 planned for Q1 2026.

• Multiple clinical data readouts and catalysts are expected within the cash runway, which extends into 2027, including phase I-B data for NMRA-511 in Alzheimer's agitation and phase III KOASTAL data for Navacaprant in MDD.

• The pipeline includes differentiated programs targeting novel mechanisms in CNS and metabolic diseases, with a comprehensive M4 franchise update by mid-2026.

Clinical trial data and development milestones

• NMRA-215 demonstrated up to 19% weight loss as monotherapy and 26% in combination with semaglutide in preclinical models, preserving lean mass and improving metabolic biomarkers.

• NMRA-511 phase I-B study in Alzheimer's agitation is ongoing, with top-line data expected by year-end 2025; prior studies showed safety and tolerability in healthy adults and elderly.

• Navacaprant phase III KOASTAL-2 and -3 studies in MDD will report top-line data in 1H and 1Q 2026, respectively.

• M4 PAM franchise (NMRA-861, NMRA-898) is in phase I SAD/MAD studies for schizophrenia, with a franchise update expected by mid-2026.

• Additional NMRA-215 data will be presented during a virtual R&D day on October 27, 2025.

R&D strategy and innovation priorities

• Focus on best-in-class pharmacology, brain-penetrant chemistry, and novel mechanisms to address unmet needs in CNS and metabolic diseases.

• Emphasis on CNS penetration and selectivity for key targets (NLRP3, V1aR, M4R, KOR), with NMRA-215 engineered for high CNS penetration to achieve IC90 coverage.

• M4 PAM franchise leverages allosteric modulation for selectivity and improved safety in schizophrenia treatment.

• NMRA-215 is also being explored for potential use in Parkinson's disease.