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NMRA Nasdaq· Neumora Therapeutics Inc
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NMRA Nasdaq· Neumora Therapeutics Inc
Earnings report Q3 2023

NMRA Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, NMRA reported total revenue of $41.6 million, representing a significant increase of 84% compared to the same period last year. This growth was primarily driven by the Navacaprant (NMRA-140) program, which contributed $13.9 million in revenue. Additionally, the NMRA-511 program generated $2.1 million in revenue, while preclinical programs contributed $4.7 million.

Strengths

NMRA's strong revenue growth in the latest quarter can be attributed to the success of the Navacaprant program, which saw a substantial increase in external program expenses. The company's management highlighted the achievement of development and regulatory approval milestones, as well as sales-based milestones, which contributed to the revenue growth. This indicates the progress and potential of NMRA's pipeline.

Challenges

Despite the overall positive performance, NMRA also faced challenges in the latest quarter. The company experienced a significant increase in research and development expenses, which rose by $19.1 million compared to the same period last year. This increase was mainly driven by higher internal and unallocated expenses, including personnel-related costs and other costs. NMRA will need to manage these expenses effectively to maintain profitability.

Noteworthy

It is worth noting that NMRA reported a net loss of $127.2 million in the latest quarter, representing a decrease of $24.4 million compared to the same period last year. This loss can be attributed to the substantial increase in research and development expenses. However, the company's management remains optimistic about the progress and potential of their programs.

Summary

NMRA delivered a strong performance in the latest quarter, with significant revenue growth driven by the success of the Navacaprant program. Despite facing challenges in terms of increased research and development expenses, the company's management remains positive about the progress and potential of their pipeline. NMRA's focus on developing innovative programs positions them well for future growth and success.

Source documents

Form 10-Q  filed on Nov 01, 2023
1 pages scanned

Reference data

Company financials Q3 revenue 0
Analyst estimates Q3 EPS missed by -100.00%
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