Neuphoria Therapeutics

NEUP on Nasdaq. Market value $19m.

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Why it could be worth it

Nothing stands out yet.

Read the warning sign in its own filings

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Who owns it

None of the long-term investors we follow own it. 22 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • Weston Nichols
    Passive investor
    37.1%
    Since 21 October 2025
    What they said

    The Reporting Persons acquired the securities reported herein because they believe the securities are undervalued and represent an attractive investment opportunity. The Reporting Persons may communicate with the Company's management and board of directors (the "Board") about,…

    Read the filing
  • at least 16.3%0.0 pts
    (filed with 1 related holder)
    Since 26 December 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: On December 26, 2025, the Reporting Persons made an offer to the Board to acquire, through one or more managed investment funds and vehicles affiliated with the Investment Manager, certain…

    Read the filing
  • Shay Capital LLC
    Passive investor
    at least 7.3%
    (filed with 1 related holder)
    Since 24 October 2025
  • AdvisorShares Trust
    Passive investor
    5.8%
    Since 30 September 2026
  • Armistice Capital, LLC
    Passive investor
    at least 5.0%
    (filed with 1 related holder)
    Since 31 December 2024
  • Apeiron Investment Group Ltd.
    Passive investor
    at least 4.5%
    (filed with 4 related holders)
    Since 24 January 2025
  • Coastlands Capital Partners LP
    Passive investor
    at least 4.2%−0.9 pts
    (filed with 3 related holders)
    Since 23 July 2026
  • Baselake Partners, LP
    Passive investor
    at least 4.1%−5.3 pts
    (filed with 2 related holders)
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought or sold on the open market in the last 12 months.

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Neuphoria Therapeutics’ filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 18 Sep 2026, and no later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at year end. Mistakes could slip into the numbers.

    “Based upon that evaluation, our Interim Chief Executive Officer and Chief Financial Officer concluded that, as of June 30, 2026, our disclosure controls and procedures were not effective at the reasonable assurance level due to the material weakness in our internal control over financial reporting described below.”
    Show the full paragraph
    Our management, with the participation of our Interim Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of June 30, 2026. Based upon that evaluation, our Interim Chief Executive Officer and Chief Financial Officer concluded that, as of June 30, 2026, our disclosure controls and procedures were not effective at the reasonable assurance level due to the material weakness in our internal control over financial reporting described below.

    From the 10-K filed 18 September 2026, Item 9A. Controls and Procedures. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.