Neumora Therapeutics (NMRA) RBC Capital Markets Global Healthcare Conference 2026 summary

Navacaprant phase III program updates

• KOASTAL-2 and KOASTAL-3 studies amended after KOASTAL-1 to address inflated placebo response and inappropriate patient enrollment, especially among males.

• Partnered with Massachusetts General Hospital's SAFER program and rebuilt the clinical team to improve patient selection and medical monitoring.

• Achieved a two-thirds female population in KOASTAL-2 and KOASTAL-3, aligning with populations where prior efficacy was observed.

• Studies powered to 90% for a 3.2-point MADRS change; top-line and pooled SAFER protocol data expected this quarter.

• NDA filing strategy may rely on statistical significance in one study plus supportive pooled and safety data.

NMRA-511 Alzheimer's agitation program

• Phase I-B data show a mild side effect profile and efficacy comparable to Rexulti, with enhanced effects in high-anxiety subgroups.

• Plans to complete a MAD extension study in 2H 2024, focusing on safety, maximum tolerated dose, and potential for higher efficacy at increased doses.

• Preclinical and clinical data support targeting anxiety, aggression, and agitation, with superior CNS penetration and receptor occupancy compared to other V1a antagonists.

NMRA-215 NLRP3 inhibitor for obesity/metabolic disorders

• NLRP3 inhibition in the hypothalamus linked to significant weight loss in preclinical models, requiring high central inhibition.

• 12-week DIO model data show maintenance of semaglutide-like weight loss with 215 monotherapy.

• Preclinical-to-clinical translatability is high; 215 is the only NLRP3 inhibitor to show semaglutide-like weight loss and induction.

• Repeat three-month rat tox study ongoing after procedural errors in the initial study; audit and regulatory engagement pending study completion.