Neumora Therapeutics Updates Pipeline and Anticipates 2026 Milestones
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 05 2026
0mins
Should l Buy NMRA?
Neumora Therapeutics announced key pipeline updates and anticipated 2026 milestones that support the Company's mission to redefine neuroscience drug development with the next generation of novel therapies that offer improved treatment outcomes and quality of life for patients living with brain diseases. Navacaprant: Planned joint readout of KOASTAL-2 and -3 in second quarter of 2026: Neumora announced that it plans to increase enrollment in each of the KOASTAL studies, targeting up to 25 percent enrollment beyond the original target of 332, as the study protocols permit. The Company expects a joint topline data readout for both KOASTAL-2 and KOASTAL-3 in the second quarter of 2026 and believes this approach optimizes assessment of navacaprant efficacy in major depressive disorder in the KOASTAL program. NMRA-215: Plans to initiate Phase 1 clinical program following class-leading preclinical data: Neumora expects to initiate a clinical program evaluating NMRA-215 monotherapy and combination therapy for the treatment of obesity in the first half of 2026. The Company expects to report weight loss data following treatment with NMRA-215 around the end of 2026. M4 Positive Allosteric Modulator Franchise: Progressing Phase 1 clinical studies for NMRA-898 and NMRA-861: Neumora expects to provide a comprehensive M4 franchise update in mid-2026, including potentially advancing development of one or both programs. NMRA-511: Reported positive results from Phase 1b study in Alzheimer's disease agitation: In January 2026, NMRA-511, an oral, highly potent, brain-penetrant and selective antagonist of the vasopressin 1a receptor met the goal of the Phase 1b study, demonstrating a clinically meaningful effect size in people with AD agitation. In the study, NMRA-511 demonstrated a favorable tolerability and safety profile with no reports of somnolence or sedation. The Company is in a strong financial position and expects its cash, cash equivalents and marketable securities to support operations into the third quarter of 2027.
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Analyst Views on NMRA
Wall Street analysts forecast NMRA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NMRA is 9.33 USD with a low forecast of 3.00 USD and a high forecast of 18.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
5 Buy
2 Hold
1 Sell
Moderate Buy
Current: 2.020
Low
3.00
Averages
9.33
High
18.00
Current: 2.020
Low
3.00
Averages
9.33
High
18.00
About NMRA
Neumora Therapeutics Inc. is a clinical-stage biopharmaceutical company. The Company's therapeutic pipeline consists of seven clinical and preclinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases. Its advanced product candidate, navacaprant (NMRA-140), is a novel once-daily oral kappa opioid receptor (KOR) antagonist that is being developed for the treatment of depressive disorder (MDD). Navacaprant is being investigated in the KOASTAL pivotal Phase 3 program, evaluating navacaprant monotherapy in patients with moderate to severe MDD. The Company's next advanced product candidate is NMRA-511, which is a highly selective, novel antagonist of the vasopressin 1a receptor (V1aR) being developed for the treatment of agitation associated with dementia due to Alzheimer's disease (AD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Favorable Safety Profile: NMRA-511 demonstrated good tolerability and safety, with treatment-emergent adverse events (TEAEs) typically mild to moderate, and a low discontinuation rate of only 2.5% due to TEAEs, establishing a solid foundation for future clinical applications.
- Clear Next Steps: Neumora plans to launch a multiple ascending dose extension study at higher doses in 2026, develop an extended-release formulation for once-daily dosing, and initiate a Phase 2/3 dose-ranging study, reflecting strong confidence in NMRA-511's long-term development.
- KOASTAL Study Expansion: Neumora also announced plans to increase enrollment in the KOASTAL studies by targeting an additional 25% beyond the original target of 332 participants, with a joint topline data readout for KOASTAL-2 and KOASTAL-3 expected in Q2 2026, further enhancing its research footprint in the depression space.
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