Neumora Therapeutics (NASDAQ:NMRA) stock is falling on Monday after the clinical-stage biopharmaceutical company announced a clinical hold on a Phase 1 trial of NMRA-266.
The Food and Drug Administration (FDA) is behind this clinical hold on NMRA-266. the agency enacted this hold after recent pre-clinical data showed convulsions in rabbits. Neumora Therapeutics is working with the FDA to resolve this hold on its trial.
The Phase 1 clinical trial of NMRA-266 has seen 266 patients already dosed with the drug. The company notes that there has been no evidence of compulsion in the study. It also says that this latest decision from the FDA makes its previous guidance for the drug’s development no longer accurate.
Neumora Therapeutics president and CEO Henry Gosebruch said the following about the FDA hold:
“We are disappointed with the unanticipated safety findings in rabbits and are discussing next steps with the FDA. In parallel, we’re continuing to make significant progress across the rest of our portfolio as we seek to fulfill our mission to develop medicines for serious brain diseases.”
How This Affects NMRA Stock Today
NMRA stock is taking a beating on Monday morning, with the company’s shares down 24.7% as of this writing. That’s on top of its shares falling 19.8% year-to-date when markets closed on Friday.
Investors should also remember that NMRA stock isn’t seeing much trading today. Only about 39,000 shares have changed hands, compared to the company’s daily average trading volume of about 741,000 shares.
There are more stock market stories worth reading about below!
We have all of the hottest stock market news ready to go on Monday! A few examples include why shares of Longeveron (NASDAQ:LGVN) and Hub Cyber Security (NASDAQ:HUBC) stock are up today as well as the biggest pre-market stock movers this morning. All of that info is available at the following links!
More Monday Stock Market News
- Why Is Longeveron (LGVN) Stock Up 48% Today?
- Why Is Hub Cyber Security (HUBC) Stock Up 35% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
