Neumora Therapeutics Reports $43.1 Million Net Loss in Q2 2026, Decreasing from Previous Year

Neumora Therapeutics, Inc. reported a net loss of $43.1 million for the second quarter of 2026, a decrease from a net loss of $52.7 million in the same period of the previous year. For the first half of 2026, the company recorded a net loss of $96.5 million, compared to a loss of $120.7 million for the first half of 2025. The reduction in losses is attributed to a significant decrease in operating expenses, which fell to $42.2 million in Q2 2026 from $54.0 million in Q2 2025, driven primarily by lower research and development costs.

Research and development expenses for the second quarter of 2026 were $29.3 million, down 24% from $38.7 million in the prior year. This decline was largely due to reduced costs associated with the navacaprant program, which concluded its Phase 3 trial, and lower expenses related to the NMRA-511 program following the completion of its Phase 1b study. General and administrative expenses also decreased by 16% to $12.9 million, reflecting a reduction in personnel-related costs and consulting expenses.

As of June 30, 2026, Neumora's cash and cash equivalents stood at $116.8 million, a decrease from $182.5 million at the end of 2025. The company has not generated any revenue from product sales and continues to rely on external funding sources. In the first half of 2026, Neumora raised $20.4 million through at-the-market equity offerings. However, the company acknowledged substantial doubt about its ability to continue as a going concern within the next year, given its ongoing losses and the need for additional capital to fund operations.

Neumora is advancing several clinical programs, including NMRA-511 for agitation associated with Alzheimer's disease and NMRA-898 for schizophrenia. The company has also decided to discontinue the development of navacaprant for major depressive disorder following the results of its Phase 3 KOASTAL program. Looking ahead, Neumora plans to finance its future cash needs through a combination of equity or debt financings, collaborations, or other arrangements, although it cautioned that there are no guarantees regarding the success of these efforts.