Neumora Therapeutics, XPeng And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Neumora Therapeutics, Inc. (NMRA) shares plummeted 82.8% to $1.82 in Thursday's pre-market trading session after the company reported disappointing data from its Phase 3 KOASTAL-1 study of Navacaprant in major depressive disorder. The experimental drug failed to meet the primary endpoint of reduction in depressive symptoms as measured by the MADRS total score compared to placebo. This setback is a significant blow to Neumora's hopes of bringing a new treatment for major depressive disorder to market and could have broader implications for the company's pipeline and overall strategy in the biopharmaceutical industry.

XPeng Inc. (XPEV) shares fell 1.4% to $11.66 in pre-market trading on Thursday. The company delivered 36,695 vehicles last month, marking an increase of 82% year-over-year and 19% from November. For the full year 2024, XPeng delivered 190,068 EVs, marking a 34% year-over-year increase. However, the broader market sentiment, particularly the sell-off in major tech stocks, may be weighing on the stock price.

Other big stocks moving lower in Thursday's pre-market session include:

* Stellantis N.V. (STLA) shares dipped 8.4% to $12.09 after the company's CEO Carlos Tavares resigned abruptly amid faltering U.S. sales and looming trade pressures.
* Erasca, Inc. (ERAS) shares fell 9.1% to $2.60 in pre-market trading.
* Super Hi International Holding Ltd. (HDL) shares declined 7.8% to $18.88 in pre-market trading after jumping 21% on Friday.
* BARK, Inc. (BARK) shares fell 6.3% to $2.0245 in pre-market trading.
* Revolution Medicines, Inc. (RVMD) shares declined 5.1% to $54.89 in pre-market trading after the company issued clinical updates from its RAS(ON) Inhibitor Portfolio.
* PG&E Corporation (PCG) shares fell 5.1% to $20.52 in pre-market trading after the company announced it launched a $1.2 billion common and preferred stock offering.
* Guardian Pharmacy Services, Inc. (GRDN) shares tumbled 3.2% to $24.14 in pre-market trading.
* Forward Air Corporation (FWRD) shares fell 3.1% to $35.55 in pre-market trading.



The broader market sentiment, particularly the sell-off in major tech stocks, may be weighing on the stock prices of these companies. Investors may be reassessing their portfolios and reducing exposure to riskier assets. Additionally, the disappointing data from Neumora Therapeutics' Phase 3 study could be causing investors to reevaluate their positions in biotech stocks, particularly those focused on central nervous system disorders.

In conclusion, Neumora Therapeutics' disappointing data from its Phase 3 study of Navacaprant in major depressive disorder sent the company's stock price plummeting in Thursday's pre-market trading session. XPeng and other big stocks also moved lower, potentially due to broader market sentiment and the sell-off in major tech stocks. Investors may be reassessing their portfolios and reducing exposure to riskier assets, particularly in the biotech sector. As the market continues to evolve, investors should stay informed about the latest developments and maintain a diversified portfolio to mitigate risk.