Neumora Therapeutics Inc. Common Stock (NMRA)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am wary of clinical-stage biotech with no revenue. Neumora has no revenue in the filed figures, and its losses are large: in fiscal FY2023, the year ended 2023-12-31, net loss was $235.9M; in fiscal FY2024, net loss was $243.8M; in fiscal FY2025, net loss was $236.9M. In fiscal Q1 2026, the quarter ended 2026-03-31, net loss was $53.5M, and in fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $43.1M. That is some sequential improvement, but the business still consumes cash. Trailing free cash flow is $-180.5M, and FairStock's FCF yield is -259.7% against the $69.5M market cap at the 2026-10-13 close of $0.37. FairStock calculations show P/E -0.30, P/B 1.54, ROE -187.11%, ROCE -73.85%, D/E 1.20, Piotroski 0/9, and Altman Z-Score -12.87. Beta 2.74 signals high volatility. These are not signs of a durable moat; they are signs of a pipeline burning equity. The Lynch category is none, because losses occurred in each of the last four years. The data lists profit growth of 18.30%, but from a negative base that means only a narrower loss. The only real asset is hope in navacaprant's Phase 3 program and NMRA-511's Phase 1b program. If they work, the low market cap could imply huge optionality. If they fail or require heavy dilution, book value can evaporate. Graham would demand a margin of safety; here the margin rests on clinical data, not on earnings or assets. This is speculation in science, not a value investment.

In plain English: Neumora is a small biotech company with 63 employees trying to develop medicines for brain diseases such as depression. It has no product sales in the financial reports and has been losing a lot of money, so the business looks weak and risky. At 37 cents a share, the price is very low, but the company's losses are huge compared with its size, so it does not look like a safe bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer