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Class Action Lawsuit Announced for Neumora Therapeutics Investors

Investors of Neumora Therapeutics, Inc. are now presented with a significant opportunity. Following disclosures about potential securities law violations that occurred during the company’s initial public offering (IPO) on September 15, 2023, Bronstein, Gewirtz & Grossman LLC has filed a class-action lawsuit against Neumora Therapeutics and certain of its officers. This legal action represents a chance for affected investors to reclaim their losses through participation in the lawsuit.

Understanding the Case

The lawsuit has been initiated on behalf of various individuals and entities who purchased or acquired Neumora’s securities following the IPO. The Complaint alleges several serious violations of federal securities laws. It argues that Neumora misrepresented the condition and prospects of its Phase Three clinical program, specifically the KOASTAL-1 study, which was instrumental in evaluating its leading drug candidate, Navacaprant.

The firm claims that crucial risks and uncertainties concerning this program were concealed from investors at the time of the IPO. Importantly, the need for the company to amend the original Phase Two trial criteria raised concerns about the validity of the study outcomes. In particular, Neumora’s strategy involved broadening the patient profile to include individuals with more severe forms of Major Depressive Disorder (MDD), thereby creating gaps in data reliability.

Key Allegations

The Complaint points to three main issues:
1. Altered Inclusion Criteria: Neumora allegedly changed the inclusivity of its Phase Two trial to include patients with moderate to severe MDD, casting doubt on previous efficacy assumptions for Navacaprant.
2. Statistical Analysis Adjustments: It is alleged that the company adjusted the statistical analysis plan during the Phase Two trials, casting further suspicion on the integrity of the results.
3. Insufficient Data: The complaint also states that the Phase Two trials did not provide enough comprehensive data, especially regarding gender demographics and overall patient size, complicating the predictions for the KOASTAL-1 study.

These points highlight potential negligence or even intentional misinformation that may have resulted in substantial financial losses for investors, who were led to believe that the drug was progressing without major concerns.

Next Steps for Investors

The class action lawsuit has already been filed, and eligible investors are encouraged to review the specifics of the Complaint by visiting the law firm’s website at bgandg.com/NMRA. If you are among those who have experienced losses due to the developments surrounding Neumora Therapeutics, it is imperative to act quickly. Investors have until February 7, 2025, to formally request that the court appoint them as lead plaintiffs.

Notably, participating as a lead plaintiff is not a prerequisite for recovering losses from the lawsuit.

No Upfront Costs

Bronstein, Gewirtz & Grossman LLC operates on a contingency fee basis, which means that investors will not incur out-of-pocket costs unless the case is successful. If successful, the court will reimburse the firm for fees and expenses, typically as a percentage of the recovery.

The Legacy of Bronstein, Gewirtz & Grossman LLC

As a nationally acclaimed law firm specializing in securities fraud class actions, Bronstein, Gewirtz & Grossman has historically achieved favorable outcomes for investors, securing hundreds of millions in recoveries nationwide.

For continuous updates, investors can follow the firm on LinkedIn, X, Facebook, or Instagram.

In conclusion, if you have been affected by the alleged misrepresentations by Neumora Therapeutics, take this chance to stand up for your rights and potentially reclaim your losses by participating in this class action lawsuit.