Neuphoria Stock Crashes After Social Anxiety Trial Failure — What’s Next?
Key Facts: - Neuphoria shares plunged ~67% in after-hours trading on Oct 20 when its lead drug BNC210 failed a Phase 3 SAD trial Investing. The AFFIRM-1 trial missed both primary and secondary endpoints, and the company immediately halted its social anxiety program and launched a full strategic review Investing Globenewswire. - CEO Spyros Papapetropoulos vowed to “conserve our cash position” while exploring options to “maximize value for shareholders” Globenewswire. Neuphoria will evaluate BNC210 in PTSD and otherwise cut spending. - NEUP stock fell from about $15.40 on Oct 20 to roughly $5 in pre-market Oct 21 Investing Benzinga. By Oct 23 close it was ~$4.05 Reuters, then rebounded to ~$6.7 by Oct 24 Reuters Benzinga. - The company held $14.2M cash at June 30, 2025, projecting runway into mid‑2027 Globenewswire. It also maintains a Merck partnership worth up to $450M in milestones Globenewswire. - Analysts had been bullish, but many now question the SAD trial design. William Blair noted BNC210’s peak concentration arrives 2 hours after dosing, whereas the speech test came at 1 hour, possibly explaining the miss Biospace.
