The following is a summary of the Neumora Therapeutics, Inc. (NMRA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Total operating expenses for Q3 2024 were $76.6 million compared to $56.9 million for the same period in 2023, driven by increased activities related to the Phase 3 program for navacaprant and other ongoing studies.

• Neumora ended Q3 with $341.3 million in cash, cash equivalents, and marketable securities, expected to support operations into mid-2026.

Business Progress:

• Neumora has advanced its lead program, navacaprant, into three Phase 3 studies for major depressive disorder (MDD), with top-line data expected around the end of the year for KOASTAL-1.

• Navacaprant is also being investigated in a Phase 2 study for bipolar disorder, with results anticipated in the second half of 2025.

• Additional ongoing phase studies include NMRA-511 for Alzheimer's disease agitation and an IND expected for a second M4 positive allosteric modulator in early 2025.

Opportunities:

• Navacaprant has potential to reshape MDD treatment, capitalizing on unmet needs in neuropsychiatric conditions and possibly expanding into bipolar disorder treatment.

• Neumora is poised to potentially commercialize navacaprant independently in the U.S. following anticipated positive Phase 3 results.

Risks:

• Effective management of placebo effects in neuropsychiatric studies is critical; implemented measures seek to mitigate these impacts.

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