Updates
** Drug developer Neumora Therapeutics' NMRA.O shares fall 80% to $2.08, hitting lowest level since its Nasdaq debut
** Stock on track for biggest one-day percentage fall since debut if losses hold
** NMRA says its experimental depression drug, navacaprant, did not meet the main goal in a late-stage trial
** The drug did not reduce symptoms of depression as measured on a disease severity scale that tracks sadness, reduced sleep and pessimistic thoughts
** NMRA says the drug also did not improve anhedonia, a patients' inability to feel pleasure — a key secondary goal in the study
** Brokerage RBC Capital Markets says results "represent a worst-case scenario for the program"
** Brokerage Needham says data "reduces the likelihood" of the drug succeeding in two other late-stage studies
** NMRA plans to discuss updates on development of the drug at an industry conference later this month
** Co says its cash balance of $342 mln at the end of the Q3 will fund operations into mid-2026
** As of last close, stock down 34.8% since debut on Sep. 15, 2023
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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