The investigation centers on whether Neumora executives issued misleading statements regarding the status of the KOASTAL clinical program and the company’s financial health. Just months prior to the collapse, leadership expressed optimism about the trials. During a March 30, 2026, earnings call, COO Aurora described the firm as satisfied with the program's progress, while in January, President Pinto touted an optimization of the patient population to ensure higher-quality study results.

Investors who purchased NMRA securities and incurred losses are now being evaluated for potential legal claims. The firm is examining whether the company’s public disclosures accurately reflected the risks associated with the navacaprant program before the negative data surfaced. Levi & Korsinsky, which operates on a contingency basis, is requesting that shareholders provide brokerage records to determine eligibility for recovery, regardless of whether they currently hold the stock or reside outside the United States.