Neumora Q1 Cash $147.1M, KOASTAL-2/3 Readout Slated Q2 2026
Neumora fully enrolled KOASTAL-2 and -3 navacaprant studies with over 400 patients each and expects a joint topline readout in Q2 2026. The company ended Q1 with $147.1 million in cash supporting operations into Q3 2027 and reported a net loss of $53.5 million.
1. Business Update and Enrollment
Neumora fully enrolled KOASTAL-2 and -3 navacaprant studies during the first quarter, enrolling over 400 patients per study. The company anticipates a joint topline readout in Q2 2026, including analysis of more than 450 patients following early 2025 optimizations.
2. Pipeline Development and Milestones
Phase 1b NMRA-511 in Alzheimer’s disease agitation showed an unsurpassed effect size with no sedation, and data from the multiple ascending dose expansion cohort are expected in H2 2026, with Phase 2 starting in Q1 2027. NMRA-898 Phase 1 data in schizophrenia are due in H2 2026, and NMRA-215 preclinical work targets clinic entry in Q1 2027.
3. First Quarter Financial Results
As of March 31, 2026, Neumora held $147.1 million in cash, funding operations into Q3 2027. R&D expenses declined to $38.6 million from $52.2 million year-over-year, G&A fell to $14.3 million from $18.8 million, and net loss narrowed to $53.5 million from $68.0 million.