Full Press Release Details
Lead Plaintiff Deadline is April 7, 2025
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NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Neumora Therapeutics, Inc. (“Neumora”) (NASDAQ: NMRA) common stock pursuant and/or traceable to Neumora’s registration statement issued in connection with Neumora’s initial public offering (“IPO”) held on September 15, 2023. In its IPO, Neumora sold 14.7 million shares at $17.00 per share.
Neumora is a clinical-stage biopharmaceutical company that engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases.
CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
The filed Complaint alleges that, unbeknownst to investors, Neumora's Phase Three Program, including the KOASTAL-1 study, was riddled with risks and uncertainties that were well known by the Company at the time of the IPO.
Specifically, it is alleged that the Offering Documents failed to disclose and/or misrepresented the following significant, then-existing material events, trends, and uncertainties regarding the prospects of
Navacaprant as monotherapy, including:
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 MDD to show that Navacaprant offered a statistically significant improvement in treating MDD;
and to that same end, the Company also added a prespecified analysis to the Phase Two statistical analysis plan, focusing on patients suffering from moderate to severe MDD; and
the Phase Two Trials lacked adequate data, particularly regarding 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.
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 $1.67 per share on February 12, 2025 (a 90.2% decline from the IPO price).
If you have incurred losses, you may, no later than April 7, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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