NMRA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• Research and development expenses decreased by $13.6 million, or 26%, to $38.6 million for the three months ended March 31, 2026, from $52.2 million for the three months ended March 31, 2025.

• reduced NMRA-511 program costs of $1.4 million due to lower clinical trial costs with the completion of the Phase 1b study,

• partially offset by a $1.7 million increase in preclinical research and manufacturing.

• Internal and unallocated expenses decreased $10.4 million, which were primarily due to:

• a decrease in other costs of $7.4 million primarily due to no activity under our research and collaboration agreements with Amgen in the current period, compared to $6.3 million in the prior period. The Amgen Collaboration Agreement automatically terminated upon its third anniversary in September 20…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Research and development expenses decreased by $20.1 million, or 33%, to $40.5 million for the three months ended September 30, 2025, from $60.6 million for the three months ended September 30, 2024.

• partially offset by a $3.0 million increase in preclinical research and manufacturing.

• Internal and unallocated expenses decreased $16.7 million, which were primarily due to:

• a decrease in other costs of $13.5 million due to no activity under our research and collaboration agreements with Amgen in the current period, compared to $12.5 million in the prior period. The Amgen Collaboration Agreement automatically terminated upon its third anniversary in September 2024 and a…

• Lower personnel-related costs of $3.2 million due to a reduction in stock based compensation expense primarily driven by lower headcount and the decreased value of stock options granted.

Text added vs the prior filing · source: 10-Q · 2026-05-07

• On February 6, 2025, a purported stockholder of the Company filed a lawsuit against us, certain executive officers, and certain underwriters in the United States District Court for the Southern District of New York (Case No. 1:25-cv-01072). The complaint is a putative class action alleging violation…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• On February 6, 2025, a purported stockholder of the Company filed a lawsuit against us, certain executive officers, and certain underwriters in the United States District Court for the Southern District of New York (Case No. 1:25-cv-01072). The complaint is a putative class action alleging violation…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• We have devoted a significant portion of our financial resources and efforts to building our organization, acquiring technologies and companies, executing clinical and preclinical studies, conducting research and development, identifying and developing potential

• product candidates, building our precision neuroscience approach, organizing and staffing our company, business planning, establishing, maintaining and protecting our intellectual property portfolio, raising capital and providing general and administrative support for these operations. We have not c…

• We are a clinical‑stage biopharmaceutical company with a limited operating history upon which you can evaluate our business and prospects. Since our inception in November 2019, we have devoted substantially all of our resources and efforts to building our organization, acquiring technologies and com…

• the effect of any potential supply chain interruptions or delays, including those related to geopolitical issues;

• including commercial manufacturing supply, and may require us to build a commercial organization and make substantial investment and significant marketing efforts before we generate any revenue from product sales. We are not permitted to market or promote any of our product candidates before we rece…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• We have devoted a significant portion of our financial resources and efforts to building our organization, acquiring technologies and companies, executing clinical and preclinical studies, conducting research and development, identifying and developing potential product candidates, building our prec…

• To become and remain profitable, we must succeed in identifying, developing, conducting successful clinical trials, obtaining regulatory approval for, and eventually commercializing, products that generate significant revenue. This will require us to be successful in a range of challenging activitie…

• We are a clinical‑stage biopharmaceutical company with a limited operating history upon which you can evaluate our business and prospects. Since our inception in November 2019, we have devoted substantially all of our resources and efforts to building our organization, acquiring technologies and com…

• preclinical stages of development, and we have not yet demonstrated our ability to successfully complete any late‑stage or registrational/pivotal clinical trials, obtain regulatory approvals, manufacture a commercial scale product or arrange for a third party to do so on our behalf, or conduct sales…

• addressing any potential supply chain interruptions or delays;

Text added vs the prior filing · source: 10-Q · 2026-05-07

• The following table describes, for the three months ended March 31, 2026, each trading arrangement for the purchase or sale of Company securities adopted, modified or terminated by our directors and officers that is either (1) a contract, instruction or written plan intended to satisfy the affirmati…

• (1) Trading arrangement was originally adopted August 30, 2024.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• See Note 15 – Subsequent Event to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form

• 10-Q for information regarding the amendment to the loan and security agreement with K2 HealthVentures LLC.

• The following table describes, for the three months ended September 30, 2025, each trading arrangement for the purchase or sale of Company securities adopted, modified or terminated by our directors and officers that is either (1) a contract, instruction or written plan intended to satisfy the affir…

• (1) Changed the timing and price limits of sales under the trading arrangement originally adopted on April 22, 2024.