0750 ET - Neumora Therapeutics shares look oversold after Thursday's 81% plunge on the heels of a failed Phase 3 study of the biotech's experimental depression drug, Mizuho says. In a research note, analyst Graig Suvannavejh says Neumora now trades at a negative enterprise value despite having a cash runway to mid-2026 and other pipeline programs. Mizuho also notes that Neumora still has two more navacaprant Phase 3 studies ongoing, and that many antidepressants have had at least one Phase 3 failure before winning approval. Neumora up 4.5% premarket to $2.06. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
January 03, 2025 07:50 ET (12:50 GMT)
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