1. Robbins LLP filed a class action against NMRA for misleading IPO disclosures. 2. Allegations involve Navacaprant's Phase Two Trial misrepresentations about efficacy. 3. NMRA shares fell 88.7% since IPO, closing at $1.91 on Feb 5, 2025. 4. Adverse information disclosed post-announcement of KOASTAL-1 study failures. 5. Class action lead plaintiff applications due by April 7, 2025.
The substantial stock decline indicates severe investor disappointment and trust erosion, reminiscent of past biotech failures after misleading IPO claims.
The legal action directly concerns NMRA's IPO integrity and can cause significant price volatility.
Immediate investor sentiment impacted by ongoing legal issues and recent study failures.
/PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of all persons or entities who purchased or otherwise acquired Neumora Therapeutics, Inc. (NASDAQ: NMRA) common stock pursuant to the Offering Documents issued in connection with the Company's initial public offering ("IPO") on September 15, 2023. Neumora is a clinical-stage biopharmaceutical company.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
Robbins LLP is Investigating Allegations that Neumora Therapeutics, Inc. (NMRA) Misled Investors in the Offering Documents in Support of its IPO.
According to the complaint, the Offering Documents failed to disclose or misrepresented facts regarding the prospects of Navacaprant (the Company's flagship candidate aimed at treating major depressive disorder (MDD)) as a monotherapy, including:
The complaint alleges that on January 2, 2025, the undisclosed adverse facts became known when Neumora issued a press release announcing the results from the KOASTAL-1 study of Navacaprant for the treatment of moderate to severe MDD. The press release revealed that the KOASTAL-1 study failed to "demonstrate a statistically significant improvement on the primary endpoint of change from baseline in the Montgomery-Åsberg Depression Rating Scale ('MADRS') total score at Week 6 or the key secondary endpoint of a change from baseline in the Snaith-Hamilton Pleasure Scale ('SHAPS') scale."
Since the IPO, the value of Neumora common stock has declined substantially from the IPO price of $17 per share to a closing price of $1.91 per share on February 5, 2025, an 88.7% decline from the IPO price.
You may be eligible to participate in the class action against Neumora Therapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class must file papers with the court by April 7, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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Aaron Dumas, Jr.
Robbins LLP
5060 Shoreham Pl., Ste. 300
San Diego, CA 92122
[email protected]
(800) 350-6003
www.robbinsllp.com
SOURCE Robbins LLP