Michael Lee Milligan, who serves as Chief Financial Officer and Principal Accounting Officer at Neumora Therapeutics, Inc. (NASDAQ: NMRA), executed a sale of 1,436 shares of the company's common stock on February 17, 2026, according to a Form 4 filed with the Securities and Exchange Commission.
The shares were sold at $3.565 apiece, producing a gross transaction value of $5,119. After the disposition, Milligan retains direct ownership of 21,034 Neumora shares. The sale was carried out under a Rule 10b5-1 trading plan that the company says was adopted on August 30, 2024.
Separately, Neumora has disclosed encouraging clinical and strategic updates. The company reported positive findings from a Phase 1b study of NMRA-511, an investigational therapy for agitation in patients with Alzheimer’s disease. The study results indicated a significant reduction in agitation symptoms and, notably, did not show common side effects such as somnolence or sedation.
Following the Phase 1b announcement, two research firms adjusted their views on Neumora. Mizuho raised its price target to $6.00 while maintaining an Outperform rating. Leerink Partners initiated coverage with an Outperform rating and set a price target of $8.00, citing the breadth of Neumora’s development portfolio.
Neumora has also provided a look at its 2026 clinical agenda, with plans to advance multiple programs in brain diseases. Included in those plans is an intention to increase enrollment in the KOASTAL-2 and KOASTAL-3 Phase 3 trials for major depressive disorder by as much as 25% over the initial targets, as the company seeks to bolster those pivotal studies.
Taken together, the insider trade filing, clinical readout, analyst actions and the company’s enrollment plans outline the current public record of Neumora’s recent corporate activity. The Form 4 documents the executed sale under a pre-existing trading arrangement, while the clinical and commercial updates reflect the company’s efforts to progress its pipeline and engage market analysts.