Neumora falls as J&J's setback triggers concerns over depression drug

Shares of Neumora Therapeutics NMRA.O fall 11.2% to $1.35 premarket, set to break three-day winning streak

Johnson & Johnson JNJ.N late on Thursday scrapped trials of a depression drug similar to NMRA's navacaprant, citing lack of sufficient efficacy

*Brokerage Stifel, which was one among six joint bookrunners of NMRA's IPO in 2023, cuts rating to "hold" from "buy"

"We had always seen the success of aticaprant... as an important source of validation for the KORA mechanism," says Stifel, referring to class of drugs known as KOR antagonists

NMRA stock plunged about 80% in early January after experimental drug navacaprant flunked late-stage trial in depression patients

Shares down about 90% since IPO in September 2023