A federal securities class action has been filed against Neumora Therapeutics, Inc. (“Neumora”) (NASDAQ: NMRA) on behalf of investors who purchased or otherwise acquired Neumora common stock pursuant and/or traceable to the Offering Documents issued in connection with the company’s initial public offering (“IPO”) and suffered damages as a result.
The lawsuit asserts strict liability claims under the Securities Act of 1933 related to Neumora’s IPO, which commenced on or about September 15, 2023, offering 14,710,000 shares of common stock at a price of $17.00 per share.
Allegations Against Neumora
Acccording to the complaint, 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 a monotherapy, including:
1. Changes to Trial Inclusion Criteria – To justify conducting its Phase Three Program, Neumora had to amend BlackThorn’s original Phase Two Trial inclusion criteria to include a patient population with moderate to severe major depressive disorder (“MDD”) to show that Navacaprant offered a statistically significant improvement in treating MDD.
2. Modification to Statistical Analysis – Neumora also added a prespecified analysis to the Phase Two statistical analysis plan, focusing on patients suffering from moderate to severe MDD.
3. Insufficient Phase Two Trial Data – The Phase Two Trials lacked adequate data, particularly regarding 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.
Investors Who Acquired NMRA Stock May Have Legal Claims
Investors who acquired Neumora common stock pursuant or traceable to the company’s IPO may have legal claims. To learn more about the Neumora class action or explore your legal options, please send us a message or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], for a free, no-obligation legal evaluation.
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side class action law firm specializing in securities fraud, breaches of fiduciary duties, and corporate misconduct. Collectively, the firm’s partners have served as Lead Counsel or Co-Lead Counsel in high-profile cases that have recovered more than $10 billion for both institutional and individual investors.
Kehoe Law Firm’s legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
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