Neumora Therapeutics is trading 5.3% up today at $1.69, staging a modest recovery after sharp losses tied to the recent failure of its lead clinical program.
- The company discontinued its lead depression drug, navacaprant, in June after it failed two Phase 3 trials, which also resulted in a 35% reduction in the workforce.
- With no fresh headlines today, the move appears to be a rebound in a beaten-down biotech name as investors reassess the remaining pipeline and prior valuation cuts.
- The price action comes despite a generally weak broader market and sector backdrop.