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Neumora Therapeutics

NMRA on Nasdaq. Biological products, (no diagnostic substances). Market value $99m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
-119.1%low

For every $100 of what the whole company costs, it produced $-119.12 of spare cash last year. A savings account pays about $4.

Price to profit
n/a

The filings do not give us enough to work this out.

Return on capital
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

Five years of cash, in billions

Five-year fundamentals are not available yet.

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Not enough data
  • Debt0.52× equity
  • Revenue growth, five yearsUnknown

Dates

Next results (estimated)
n/a
Last annual report (10-K)
30 March 2026
Next quarterly (estimated, 10-Q)
13 November 2026

Who owns it

None of the long-term investors we follow own it. 113 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

4 investors own more than 5%.

  • Kristina Burow
    Passive investor
    at least 18.7%−2.0 pts
    (filed with 17 related holders)
    Since 30 March 2026
  • Paul L Berns
    Passive investor
    5.1%
    Since 31 December 2024
  • Raymond Debbane
    Passive investor
    at least 4.7%−0.7 pts
    (filed with 7 related holders)
    Since 31 March 2026
  • K2 HealthVentures Equity Trust LLC
    Passive investor
    at least 3.1%−1.9 pts
    (filed with 2 related holders)
    Since 31 March 2026
  • FMR LLC
    Passive investor
    Sold down below 5%
    Since 31 March 2025

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

What insiders did

In the last 12 months, 1 insider bought $5m of shares on the open market. 4 sold $1m, $312,531 of it under preset trading plans.

  • Aurora Daljit Singh
    See Remarks
    Sold
    Date
    21 August 2026
    Shares
    41,608
    Price
    $1.60
    Value
    $66,380
  • Aurora Daljit Singh
    See Remarks
    Sold
    Date
    20 August 2026
    Shares
    134,452
    Price
    $1.51
    Value
    $203,587
  • Aurora Daljit Singh
    See Remarks
    Sold
    Date
    19 August 2026
    Shares
    61,918
    Price
    $1.65
    Value
    $101,917
  • Aurora Daljit Singh
    See Remarks
    Sold
    Date
    18 August 2026
    Shares
    69,149
    Price
    $1.59
    Value
    $109,622
  • Aurora Daljit Singh
    See Remarks
    Sold
    Date
    17 August 2026
    Shares
    146,706
    Price
    $1.50
    Value
    $220,135
  • Aurora Daljit Singh
    See Remarks
    Sold
    Date
    17 February 2026
    Shares
    6,165
    Price
    $3.56
    Value
    $21,947
  • Pinto Joshua
    President
    Sold
    Date
    17 February 2026
    Shares
    5,967
    Price
    $3.54
    Value
    $21,123
  • BERNS PAUL L
    See Remarks, Director
    Sold
    Date
    17 February 2026
    Shares
    9,819
    Price
    $3.51
    Value
    $34,465
  • Milligan Michael Lee
    See Remarks
    Sold
    under a preset trading plan
    Date
    17 February 2026
    Shares
    1,436
    Price
    $3.57
    Value
    $5,127
  • Aurora Daljit Singh
    See Remarks
    Sold
    under a preset trading plan
    Date
    11 November 2025
    Shares
    114,703
    Price
    $2.68
    Value
    $307,404

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 Neumora 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 30 Mar 2026, plus the 10-Q filed 14 Aug 2026 and 5 later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “Accordingly, the Company has concluded that substantial doubt exists about its ability to continue as a going concern.”
    Show the full paragraph
    The Company has incurred net losses and negative cash flows from operations since inception and as of June 30, 2026, had an accumulated deficit of $ 1,280.7 million. The Company expects to incur additional losses in the future as it continues its research and development efforts, advances its product candidates through preclinical and clinical development, expands its product pipeline, potentially seeks regulatory approval, as well as hires additional personnel, protects its intellectual property and potentially grows its business. As of June 30, 2026, the Company had cash and cash equivalents of $ 116.8 million, which are available to fund future operations. While the Company expects to be able to obtain additional funding, the current available cash and cash equivalents will not be sufficient to fund the Company’s operating plans for at least twelve months from the issuance date of these condensed consolidated financial statements. Accordingly, the Company has concluded that substantial doubt exists about its ability to continue as a going concern.

    From the 10-Q filed 14 August 2026, Part I, Item 1. Financial Statements. 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.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

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.