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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.