Neumora Ends Phase 3 KOASTAL Study Of Navacaprant, To Lay Off 35% Of Workforce; Stock Plunges 50%
India, June 15 -- Neumora Therapeutics Inc. (NMRA), a clinical-stage biopharmaceutical company, on Monday announced the discontinuation of the Phase 3 KOASTAL program evaluating Navacaprant for the treatment of major depressive disorder. Following the announcement, shares fell over 50% on Monday. The KOASTAL-2 and KOASTAL-3 studies enrolled 430 and 422 patients with major depressive disorder (MDD). Data from 426 analyzed patients showed that primary and key secondary endpoints were not met, with recorded parameters for depression in the tested group measuring similar to the placebo group. The primary endpoint was set at a change from baseline (CFB) to week 6 on the Montgomery-Asberg Depression Rating Scale (MADRS). In the KOASTAL-2 study, t...
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