Neumora Secures $182.5M Cash Runway, KOASTAL-2/3 Fully Enrolled and NMRA-511 Effect Sizes
The company ended 2025 with $182.5 million cash supporting operations into Q3 2027 and enrolled over 400 patients in each KOASTAL-2 and -3 trial, with topline readout in Q2 2026. NMRA-511 analysis showed Cohen’s d effect sizes of 0.34 and 0.51 aggression at week 8, while NMRA-898 demonstrated an 80-100-hour half-life for once-daily dosing.
1. Financial Results and Cash Runway
Neumora reported fourth quarter and full year 2025 financials, ending December 31 with $182.5 million in cash, cash equivalents and marketable securities, providing runway into the third quarter of 2027.
2. KOASTAL-2 and -3 Full Enrollment
Both KOASTAL-2 and -3 studies were fully enrolled in the first quarter of 2026 with over 400 patients each, and the company expects a joint topline readout in the second quarter of 2026, including prespecified analyses involving more than 450 patients following 2025 optimizations.
3. NMRA-511 Phase 1b Analysis
A pre-specified analysis of the NMRA-511 Phase 1b Alzheimer’s agitation study demonstrated Cohen’s d effect sizes of 0.34 for overall agitation and 0.51 for aggression at week 8, with safety and tolerability consistent with initial topline results.
4. M4 Franchise and Obesity Program Updates
Neumora designated NMRA-898 as lead M4 positive allosteric modulator, showing an 80–100-hour half-life and dose-proportional exposures supporting once-daily dosing, while positive 12-week diet-induced obesity data for NMRA-215 were reported alongside a for-cause audit of unexpected toxicology findings and plans for clinical initiation in Q1 2027.