Neumora Therapeutics Reports $67.99 Million Net Loss in Q1 2025, Seeks Additional Capital

Neumora Therapeutics, Inc. reported a net loss of $67.99 million for the first quarter of 2025, compared to a net loss of $53.72 million for the same period in 2024, reflecting a 26.1% increase in losses year-over-year. The company's total operating expenses rose to $70.94 million, up from $60.07 million in the prior year, driven primarily by increased research and development costs, which amounted to $52.15 million, a 14% increase from $45.76 million in the previous year. General and administrative expenses also increased by 31% to $18.79 million, largely due to higher personnel-related costs and stock-based compensation.

As of March 31, 2025, Neumora's total assets were reported at $256.75 million, a decrease from $316.97 million at the end of 2024. The decline in assets was attributed to a reduction in cash and cash equivalents, which fell to $126.86 million from $142.15 million, and a decrease in short-term marketable securities. The company’s accumulated deficit reached $1.02 billion, indicating ongoing financial challenges as it continues to invest heavily in its clinical programs without generating revenue from product sales.

Neumora is advancing its pipeline of neuroscience programs, which includes seven candidates, with two in clinical development. The most advanced candidate, navacaprant (NMRA-140), is currently undergoing pivotal Phase 3 trials for major depressive disorder, with topline data expected in early 2026. The company is also developing NMRA-511 for agitation associated with Alzheimer’s disease, with data anticipated by the end of 2025. The company has indicated that it will need to raise additional capital to support its ongoing operations and product development, as it has not yet generated revenue from product sales.

In terms of operational metrics, Neumora had 161.75 million shares of common stock outstanding as of May 5, 2025. The company has been actively managing its cash flow, reporting a net cash used in operating activities of $59.45 million for the first quarter of 2025, compared to $42.96 million in the same period last year. The company’s liquidity position remains a focus, with $249.4 million in cash, cash equivalents, and marketable securities available to fund future operations. Neumora anticipates that its existing resources will be sufficient to support operations for at least the next 12 months, although it acknowledges the need for additional financing to continue its development efforts.