Neumora tanks as KOASTAL-1 study of navacaprant misses

Massachusetts, USA-based based brain disease biotech Neumora Therapeutics (Nasdaq: NMRA) shares tumbled 81.4% to 1.97 after it revealed that its experimental depression treatment failed in the first of three studies planned by the biotech company.

Neumora announced results from the Phase III KOASTAL-1 study of navacaprant for the treatment of major depressive disorder (MDD). The KOASTAL-1 Study is the first of three replicate Phase III studies that comprise the pivotal KOASTAL program.

The study did not 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.