Neumora Therapeutics Inc. (NMRA), a Massachusetts-based biopharmaceutical company specializing in the treatment of brain diseases, has announced the terms for its initial public offering (IPO). The company aims to raise up to $264.8 billion through the issuance of 14.71 million shares. The IPO price is expected to range between $16 and $18 per share.
Valuation and Ticker Symbol
Following the IPO, Neumora Therapeutics will have approximately 151.95 million shares outstanding, potentially valuing the company at up to $2.74 billion. The stock is anticipated to be listed on the Nasdaq under the ticker symbol "NMRA."
Underwriters
To facilitate the IPO, J.P. Morgan, BofA Securities, Guggenheim Securities, RBC Capital Markets, and William Blair have been appointed as the underwriters.
Financial Performance
For the six months ending June 30, Neumora Therapeutics recorded a net loss of $74.2 million with no revenue, compared to a net loss of $73.4 million with no revenue during the same period the previous year.
Market Conditions
Neumora Therapeutics' decision to go public coincides with a favorable market environment. Over the past three months, the Renaissance IPO ETF has experienced a 6.5% increase, while the S&P 500 has gained 3.7%.
