NMRA INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Neumora Therapeutics, Inc. Investors with Substantial Losses Have Opportunity to Lead the Neumora Class Action Lawsuit
SAN DIEGO, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Neumora Therapeutics, Inc. (NASDAQ: NMRA) common stock pursuant and/or traceable to Neumora's registration statement issued in connection with Neumora's initial public offering (the 'IPO') held on September 15, 2023, have until April 7, 2025 to seek appointment as lead plaintiff of the Neumora class action lawsuit. Captioned Chang v. Neumora Therapeutics, Inc., No. 25-cv-01072 (S.D.N.Y.), the Neumora class action lawsuit charges Neumora and certain of Neumora's top executives and directors, as well as certain underwriters of the IPO, with violations of the Securities Act of 1933.
If you suffered substantial losses and wish to serve as lead plaintiff of the Neumora class action lawsuit, please provide your information here:
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].
CASE ALLEGATIONS: Neumora is a clinical-stage biopharmaceutical company that engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. According to the complaint, Neumora acquired Navacaprant, Neumora's flagship therapeutic candidate, in September 2020 through its acquisition of BlackThorn Therapeutics, Inc. In its IPO, Neumora sold 14.7 million shares at $17.00 per share.
The Neumora class action lawsuit alleges that the IPO's offering documents were materially false and/or misleading and/or failed to disclose that: (i) in order for Neumora to justify conducting its Phase Three Program, Neumora was forced to amend BlackThorn's original Phase Two Trial inclusion criteria to include a patient population with moderate to severe major depressive disorder ('MDD') to show that Navacaprant offered a statistically significant improvement in treating MDD; (ii) and to that same end, Neumora also added a prespecified analysis to the Phase Two statistical analysis plan, focusing on patients suffering from moderate to severe MDD; and (iii) the Phase Two Trials lacked adequate data, particularly in regards to the patient population size and the ratio of male to female patients within the patient population, to be able to accurately predict the results of the KOASTAL-1 study.
The Neumora class action lawsuit further alleges that on January 2, 2025, Neumora 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 shares has declined substantially from the IPO price of $17 per share to a closing price of $1.91 per share on February 5, 2025 (a 88.7% decline from the IPO price), the complaint alleges.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Neumora common stock pursuant and/or traceable to the registration statement issued in connection with the IPO to seek appointment as lead plaintiff in the Neumora class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Neumora class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Neumora class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Neumora class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.
Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
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