Neumora Therapeutics Announces Leadership Changes and Option Repricing

Neumora Therapeutics, Inc. (NASDAQ: NMRA) disclosed in an 8-K filing on February 13, 2025, that the company is undergoing significant leadership transitions. Effective February 14, 2025, Paul L. Berns, the Co-Founder and Executive Chairman of the Board, will assume the roles of Chief Executive Officer and Chairman of the Board. Simultaneously, Henry Gosebruch will be departing the company, ceasing his roles as President, Chief Executive Officer, and Board member.

The company also detailed further organizational shifts, with Joshua Pinto, Ph.D., transitioning from Chief Financial Officer to President, and Bill Aurora, Pharm.D., moving from Chief Strategy Officer to Chief Operating and Development Officer. Additionally, Michael Milligan will now take on the dual role of Chief Financial Officer alongside his existing responsibilities as principal accounting officer. Jason Duncan is set to serve as Chief Legal and Administrative Officer, Carol Suh transitions to Chief Strategy Officer, and Kaya Pai Panandiker will no longer be Chief Commercial Officer, exiting the company.

Dr. Pinto’s annual base salary under the new Employment Agreement has been set at $645,000, along with additional incentives, including a one-time signing bonus. Furthermore, Neumora granted Dr. Pinto an option to purchase 3,000,000 shares of company common stock, subject to a vesting schedule over four years.

Similarly, Mr. Milligan and Dr. Aurora’s new roles come with increased base salaries, performance bonuses, and stock options under their respective Employment Agreements.

The Securities Exchange Act filing revealed a board-approved option repricing for certain stock options held by board members, employees, and service providers, excluding Mr. Gosebruch, contingent upon stockholder approval. The repricing aims to restore incentives and avoid additional dilution or cash expenditures.

Neumora also shared a press release, announcing these executive changes and highlighting its pivotal position as a clinical-stage biopharmaceutical company focusing on brain disease treatments. The Company’s mission involves a pipeline of seven programs aiming to redefine neuroscience drug development.

Furthermore, Neumora will host a conference call on March 3, 2025, to report its financial results for the fourth quarter and full year of 2024, alongside providing a business update. The call is expected to discuss the company’s evolving strategies, organizational changes, and developmental milestones.

Neumora’s leadership shifts reflect a strategic realignment aimed at driving continued growth, innovation, and value creation within the company.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Neumora Therapeutics’s 8K filing here.

Neumora Therapeutics Company Profile

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.