NEUP Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About NEUP Interactive Breakdown Better Bets vs. NEUP Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Neuphoria Therapeutics (NEUP)

    Market Price (10/29/2026): $2.96 | Market Cap: $16.0 MilSector: Health Care | Industry: Biotechnology

    Neuphoria Therapeutics (NEUP)

    Market Price (10/29/2026): $2.96
    Market Cap: $16.0 Mil
    Sector: Health Care
    Industry: Biotechnology

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -109%

    Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

    Weak multi-year price returns
    2Y Excs Rtn is -83%, 3Y Excs Rtn is -133%

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -9.0 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -767%

    Weak revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -92%

    Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 30%

    Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1052%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1052%

    Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -78%

    Key risks
    NEUP key risks include [1] the recent Phase 3 failure of its lead drug candidate, Show more.

    0 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -109%
    1 Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
    2 Weak multi-year price returns
    2Y Excs Rtn is -83%, 3Y Excs Rtn is -133%
    3 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -9.0 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -767%
    4 Weak revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -92%
    5 Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 30%
    6 Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1052%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1052%
    7 Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -78%
    8 Key risks
    NEUP key risks include [1] the recent Phase 3 failure of its lead drug candidate, Show more.

    NEUP in ETFs

    Weight = NEUP's share of each fund

    VTI0.00%

    Valuation & Metrics

    FYE: 6/30NEUP [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$1.2 Mil—
    FY 2027 Sales$0.6 Mil—
    FY 2028 Sales$57.0 Mil—
    FY 2027 Sales Growth-48.1%—
    FY 2028 Sales Growth9,254.5%13.3%
    EARNINGS
    LTM Net Income (GAAP) [3]$-13.5 Mil—
    FY 2027 Net Income (Non-GAAP)$-10.7 Mil—
    FY 2028 Net Income (Non-GAAP)$-10.8 Mil—
    FY 2028 Net Income Growth—19.1%
    FY 2027 EPS (Non-GAAP)$-2.43—
    FY 2028 EPS (Non-GAAP)$-2.46—
    FY 2028 EPS Growth——
    VALUATION
    FY 2027 P/S26.31.6
    FY 2028 P/S0.3—
    FY 2027 P/E—7.4
    FY 2028 P/E——

    [1] NEUP forward figures are analyst consensus for the next two fiscal years (fiscal year end 6/30). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    NEUPS&P 500
    REVENUE GROWTHPOOR
    Rev LTM ($ Bil)0.0
    Rev Chg Q8,950.3%9.1%
    Rev Chg LTM-92.5%8.5%
    Rev Chg 3Y Avg-92.5%6.1%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)-0.0
    CFO LTM ($ Bil)-0.0
    Net Inc LTM ($ Bil)-0.0
    Op Mgn LTM-767.3%18.5%
    CFO/Rev LTM-1,052.1%21.9%
    Net Inc Mgn-1,145.7%13.3%
    VALUATIONVERY HIGH
    P/S13.63.2
    P/CFO-1.315.2
    P/FCF-1.319.9
    P/E-1.222.6
    STABILITYVERY GOOD
    Debt/Equity0.000.19
    Cash/Assets0.690.07

    AI Analysis | Feedback

    MetricValueDateSource
    Target-Enrollment-for-AFFIRM-1-Phase-3-Trial3329042025Link
    Number-of-Issued-U.S.-Patents-for-BNC210over 159292025Link
    Merck-Partnership-Milestone-Payment15M2122025Link
    Potential-Future-Milestone-Payments-from-Merck-Partnershipup to $450M4152025Link
    Potential-Future-Milestone-Payments-from-Carina-Biotech-Partnershipup to approximately AUS$117 million4152025Link

    Price Chart

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    No Events

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/21/2026

    Neuphoria Therapeutics (NEUP) stock has lost about 25% since 6/30/2026 because of the following key factors:

    1. Clinical Development Setbacks and Strategic Re-evaluation.

    While the announcement of the failed Phase 3 AFFIRM-1 trial for BNC210 in social anxiety disorder (SAD) occurred in Neuphoria Therapeutics' fiscal Q3 2026 earnings report (released May 15, 2026), the ensuing discontinuation of the SAD program and the pausing of the PTSD program fundamentally shifted the company's clinical pipeline and necessitated a comprehensive strategic review. These critical developments cast a long shadow over the company, directly influencing investor sentiment and stock performance in the period since the close of fiscal Q4 2026 (June 30, 2026).

    2. Substantial Fiscal Q4 2026 Earnings Miss.

    Neuphoria Therapeutics reported its fiscal Q4 2026 earnings on September 17, 2026, posting an earnings per share (EPS) of -$0.95. This figure significantly missed analysts' consensus estimate of -$0.56 by 69.64%. This substantial negative surprise within the observation period further fueled investor concerns regarding the company's operational performance and financial outlook.

    Show more
    Updated on 10/21/2026

    Neuphoria Therapeutics (NEUP) stock has lost about 25% since 6/30/2026 because of the following key factors:

    1. Clinical Development Setbacks and Strategic Re-evaluation.

    While the announcement of the failed Phase 3 AFFIRM-1 trial for BNC210 in social anxiety disorder (SAD) occurred in Neuphoria Therapeutics' fiscal Q3 2026 earnings report (released May 15, 2026), the ensuing discontinuation of the SAD program and the pausing of the PTSD program fundamentally shifted the company's clinical pipeline and necessitated a comprehensive strategic review. These critical developments cast a long shadow over the company, directly influencing investor sentiment and stock performance in the period since the close of fiscal Q4 2026 (June 30, 2026).

    2. Substantial Fiscal Q4 2026 Earnings Miss.

    Neuphoria Therapeutics reported its fiscal Q4 2026 earnings on September 17, 2026, posting an earnings per share (EPS) of -$0.95. This figure significantly missed analysts' consensus estimate of -$0.56 by 69.64%. This substantial negative surprise within the observation period further fueled investor concerns regarding the company's operational performance and financial outlook.

    3. Uncertainty from Proposed Merger and Corporate Restructuring.

    Throughout the period since fiscal Q4 2026, Neuphoria Therapeutics confirmed it was engaged in merger discussions with Scancell Holdings plc, introducing considerable uncertainty regarding the company's future corporate structure and strategic direction. Concurrently, the company implemented significant cost reduction and restructuring measures, including pausing R&D, terminating leases, and reducing staff, alongside a management transition where the CEO's employment ended. These actions, while aimed at conserving cash, collectively signaled deep operational challenges and a lack of a clear, independent growth trajectory, contributing to sustained pressure on the stock price.

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    Stock Movement Drivers

    Fundamental Drivers

    The -23.1% change in NEUP stock from 6/30/2026 to 10/28/2026 was primarily driven by a -8950.3% change in the company's Total Revenues ($ Mil).
    (LTM values as of)630202610282026Change
    Stock Price ($)4.373.36-23.1%
    Change Contribution By: 
    Total Revenues ($ Mil)-01-8950.3%
    P/S Multiple-1,782.415.5-100.9%
    Shares Outstanding (Mil)550.1%
    Cumulative Contribution-23.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/28/2026
    ReturnCorrelation
    NEUP-23.1% 
    Market (SPY)3.4%-3.1%
    Sector (XLV)13.3%2.0%

    Fundamental Drivers

    The -17.4% change in NEUP stock from 3/31/2026 to 10/28/2026 was primarily driven by a -92.2% change in the company's Total Revenues ($ Mil).
    (LTM values as of)331202610282026Change
    Stock Price ($)4.073.36-17.4%
    Change Contribution By: 
    Total Revenues ($ Mil)151-92.2%
    P/S Multiple1.215.51156.1%
    Shares Outstanding (Mil)55-16.1%
    Cumulative Contribution-17.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/28/2026
    ReturnCorrelation
    NEUP-17.4% 
    Market (SPY)19.1%11.7%
    Sector (XLV)23.1%8.5%

    Fundamental Drivers

    The -71.5% change in NEUP stock from 9/30/2025 to 10/28/2026 was primarily driven by a -92.5% change in the company's Total Revenues ($ Mil).
    (LTM values as of)930202510282026Change
    Stock Price ($)11.793.36-71.5%
    Change Contribution By: 
    Total Revenues ($ Mil)161-92.5%
    P/S Multiple1.415.5980.2%
    Shares Outstanding (Mil)25-64.8%
    Cumulative Contribution-71.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/28/2026
    ReturnCorrelation
    NEUP-71.5% 
    Market (SPY)16.9%13.0%
    Sector (XLV)30.8%6.4%

    Fundamental Drivers

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    Market Drivers

    9/30/2023 to 10/28/2026
    ReturnCorrelation
    NEUP  
    Market (SPY)86.9%11.8%
    Sector (XLV)46.2%7.2%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    NEUP Return----48%13%-13%-49%
    Peers Return18%23%15%2%24%24%161%
    S&P 500 Return27%-19%24%23%16%13%106%

    Monthly Win Rates [3]
    NEUP Win Rate---0%58%40% 
    Peers Win Rate55%55%53%57%63%60% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    NEUP Max Drawdown-----81%-41% 
    Peers Max Drawdown-18%-20%-17%-27%-24%-19% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: VRTX, ABBV, AMGN, GILD, REGN.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 10/28/2026 (YTD)

    How Low Can It Go

    EventNEUPS&P 500
    2025 US Tariff Shock
      % Loss-11.3%-18.8%
      % Gain to Breakeven12.7%23.1%
      Time to Breakeven21 days79 days

    Compare to VRTX, ABBV, AMGN, GILD, REGN

    In The Past

    Neuphoria Therapeutics's stock fell -11.3% during the 2025 US Tariff Shock. Such a loss loss requires a 12.7% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

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    Compare to VRTX, ABBV, AMGN, GILD, REGN

    In The Past

    Neuphoria Therapeutics's stock fell -11.3% during the 2025 US Tariff Shock. Such a loss loss requires a 12.7% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Neuphoria Therapeutics (NEUP)

    Neuphoria Therapeutics Inc. (NEUP) is a biotechnology company dedicated to developing impactful treatments for neuropsychiatric disorders. Headquartered in Burlington, MA, the company's core mission is to bring new hope and tangible improvements to the lives of patients suffering from these complex conditions.

    The company's primary business revolves around the research and development of novel therapeutic solutions, which constitute its main "products" in the form of pharmaceutical treatments. Its primary market consists of patients diagnosed with various neuropsychiatric disorders, with Neuphoria Therapeutics aiming to provide innovative drug therapies to address significant unmet medical needs within this specialized healthcare sector.

    AI Analysis | Feedback

    Here are 1-3 brief analogies for Neuphoria Therapeutics:

    • Biogen for neuropsychiatric treatments.

    • Sage Therapeutics for broader brain health solutions.

    AI Analysis | Feedback

    • Novel Therapies for Mood Disorders: Neuphoria Therapeutics develops innovative treatments aimed at alleviating symptoms and improving the lives of patients with conditions such as major depressive disorder and bipolar disorder.
    • Innovative Treatments for Anxiety Spectrum Disorders: The company focuses on creating new pharmacological interventions designed to manage and reduce the debilitating effects of various anxiety disorders.
    • Advanced Medications for Psychotic Disorders: Neuphoria Therapeutics researches and develops drugs intended to address the complex symptoms of psychotic conditions like schizophrenia, seeking to improve patient outcomes.

    AI Analysis | Feedback

    Neuphoria Therapeutics Inc., as a company focused on developing treatments for neuropsychiatric disorders, operates within the pharmaceutical industry. Consequently, it sells its products primarily to other companies within the healthcare supply chain rather than directly to individuals.

    Based on typical distribution models for pharmaceutical companies, Neuphoria Therapeutics' major customers would likely include:

    1. Pharmaceutical Wholesalers and Distributors: These companies are crucial intermediaries that purchase pharmaceutical products in bulk from manufacturers and then distribute them to pharmacies, hospitals, and clinics nationwide. Major public companies in this sector that would typically serve as customers for a drug manufacturer include:

      • McKesson Corporation (Symbol: MCK)
      • Cardinal Health, Inc. (Symbol: CAH)
      • AmerisourceBergen Corporation (Symbol: ABC)

    2. Large Hospital Systems and Integrated Delivery Networks (IDNs): For certain specialized or high-volume treatments, major hospital networks and healthcare systems often purchase directly from manufacturers for use in their inpatient and outpatient facilities.

    3. Specialty Pharmacies (often affiliated with Pharmacy Benefit Managers - PBMs): Treatments for neuropsychiatric disorders can often be complex, requiring specialized handling, patient education, and support. Specialty pharmacies, sometimes owned by or closely linked with PBMs, play a key role in distributing such medications. Examples of parent companies with significant PBM and specialty pharmacy operations include:

      • CVS Health (Symbol: CVS) (operates CVS Caremark)
      • Cigna (Symbol: CI) (operates Express Scripts)
      • UnitedHealth Group (Symbol: UNH) (operates OptumRx)

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Spyros Papapetropoulos, MD, PhD President & Interim Chief Executive Officer

    Dr. Papapetropoulos was appointed President and CEO of Neuphoria Therapeutics Inc. in January 2023. He stepped down as full-time President and CEO effective December 31, 2025, while remaining on the company's board of directors. From January 1, 2026, he has served as interim CEO under a consulting agreement to support a planned strategic transaction and oversee leadership transition.

    Timothy M. Cunningham, MBA Chief Financial Officer

    Mr. Cunningham serves as the Chief Financial Officer of Neuphoria Therapeutics Inc. He holds an MBA and is a Certified Public Accountant (CPA).

    Liz Doolin, MSc SVP, Clinical Development

    Ms. Doolin holds the title of Senior Vice President, Clinical Development at Neuphoria Therapeutics Inc.

    Adrian Hinton Financial Controller and Principal Accounting Officer

    Mr. Hinton is the Financial Controller and Principal Accounting Officer for Neuphoria Therapeutics Inc. He holds a Bachelor of Economics (BEC) and is a Fellow of the Institute of Chartered Accountants (FCA).

    Dr. Mark A. Smith M.D., Ph.D. Chief Medical Officer

    Dr. Smith is the Chief Medical Officer at Neuphoria Therapeutics Inc.

    AI Analysis | Feedback

    Here are the key risks to Neuphoria Therapeutics (NEUP):

    1. Clinical Trial Failure and Regulatory Approval Risk: Neuphoria Therapeutics faces substantial risk related to the success of its drug candidates in clinical trials and subsequent regulatory approval. The company's lead drug candidate, BNC210, recently failed to meet its primary and secondary endpoints in the Phase 3 AFFIRM-1 trial for social anxiety disorder (SAD), leading to the discontinuation of its SAD program and a significant drop in stock value. While Neuphoria is still evaluating BNC210 for post-traumatic stress disorder (PTSD) and has a partnership with Merck for an Alzheimer's treatment (MK-1167), the high failure rate in neuropsychiatric drug development inherently makes this a major ongoing risk.
    2. Funding and Capital Raising Risk: As a clinical-stage biotechnology company, Neuphoria Therapeutics requires significant capital to fund its research and development. The company faces challenges in securing adequate funding, with the potential for dilutive capital raises that could negatively impact shareholder value. As of June 30, 2025, Neuphoria reported cash and cash equivalents sufficient to fund operations only through the second quarter of 2027. The recent Phase 3 trial failure is likely to intensify these funding pressures and could necessitate further capital-raising efforts.
    3. Pipeline Concentration and Dependence on Partnerships: Following the discontinuation of its BNC210 program for social anxiety disorder, Neuphoria's pipeline concentration has increased. The company's future prospects are now heavily reliant on the success of BNC210 in other indications, such as PTSD, and the continued progress and success of its strategic partnership with Merck for the Alzheimer's treatment, MK-1167. This reliance on a limited number of key assets, particularly after a significant setback with a lead candidate, presents a notable business risk.

    AI Analysis | Feedback

    The emergence of curative or disease-modifying gene and cell therapies for specific neuropsychiatric disorders. Such therapies, which aim to address the root causes of diseases with potentially one-time treatments, could fundamentally alter the market landscape for chronic drug therapies, making traditional pharmaceutical approaches less competitive or obsolete for certain conditions.

    Rapid advancements in non-pharmacological interventions, including highly personalized digital therapeutics, advanced neurostimulation devices, and AI-driven behavioral therapies. These alternative treatment paradigms could offer effective and potentially less invasive solutions, directly competing with or displacing traditional pharmaceutical interventions for neuropsychiatric conditions.

    AI Analysis | Feedback

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    Neuphoria Therapeutics (NEUP) is developing treatments for neuropsychiatric disorders, with several product candidates in its pipeline.

    • BNC210 for Post-Traumatic Stress Disorder (PTSD): Neuphoria Therapeutics is evaluating BNC210 for the chronic treatment of PTSD. A Phase 2b/3 trial for BNC210 in PTSD is planned to commence in the first half of 2026, subject to sufficient capital. The global post-traumatic stress disorder (PTSD) treatment market was valued at USD 13.2 billion in 2023 and is projected to reach USD 19.2 billion by 2032, with a compound annual growth rate (CAGR) of 4.4% from 2024 to 2032. Another estimate indicates the global PTSD treatment market size was USD 2.37 billion in 2025, with a projection to reach approximately USD 3.55 billion by 2035, growing at a CAGR of 4.12% from 2026 to 2035. The PTSD market across the seven major markets (7MM: the U.S., France, Germany, Italy, Spain, the U.K., and Australia) is expected to grow from $1.2 billion in 2024 to $5.5 billion by 2034, at a CAGR of 16.1%. North America held the largest share of the global PTSD treatment market in 2025, accounting for 58%.

    • MK-1167 (Partnered with Merck) for Alzheimer's Disease: MK-1167 is an α7 nicotinic acetylcholine receptor positive allosteric modulator (PAM) being developed in partnership with Merck for cognitive deficits associated with Alzheimer's disease and other central nervous system conditions. It is currently in a Merck-led Phase 2 clinical trial for Alzheimer's disease. The global Alzheimer's therapeutics market was estimated at USD 4.05 billion in 2022 and is anticipated to reach USD 15.19 billion by 2030, exhibiting a CAGR of 19.99% from 2023 to 2030. Another report projects the global Alzheimer's therapeutics market size to be USD 6.49 billion in 2025, increasing to approximately USD 33.62 billion by 2034, at a CAGR of 20.06% from 2025 to 2034. In the seven major markets (7MM), the Alzheimer's disease market is valued at approximately USD 5,048 million in 2025 and is expected to grow to USD 34,335 million by 2034, with a CAGR of 23.7%. The United States alone represented approximately 54% of the total Alzheimer's disease market size in the 7MM in 2023. The global Dementia and Alzheimer's Disease Treatment Market is estimated at USD 13.10 billion in 2025 and is projected to reach USD 23.19 billion by 2032, with a CAGR of 8.5% from 2025 to 2032. North America is expected to be the leading region in this market, holding a 38.3% share in 2025.

    • Broader Neuropsychiatric Disorders (for Next Generation α7 NAM and Kv3.1/3.2 preclinical programs): Neuphoria Therapeutics has a pipeline that includes next-generation α7 nicotinic acetylcholine receptor negative allosteric modulators (NAMs) for additional neuropsychiatric disorders and Kv3.1/3.2 preclinical programs for conditions such as schizophrenia and autism spectrum disorders. The global Neuropsychiatric Disorders And Treatment Market was valued at USD 162,248.25 million in 2025 and is anticipated to grow to USD 309,991.13 million by 2032, at a CAGR of 9.7%. Another projection for the global neuropsychiatry market size indicates it was $145.03 billion in 2024 and is expected to reach $422.21 billion by 2035, growing at a CAGR of 10.2% from 2025 to 2035. North America dominated the neuropsychiatry market in 2024. In 2025, North America accounted for 38.80% of the global market revenue for neuropsychiatric disorders and treatment.

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    AI Analysis | Feedback

    Neuphoria Therapeutics Inc. (NEUP) is a clinical-stage biotechnology company focused on developing treatments for neuropsychiatric disorders. Over the next 2-3 years, its future revenue growth is anticipated to be driven by several key factors, particularly given its current clinical development stage and recent strategic shifts. Here are 3-5 expected drivers of future revenue growth for Neuphoria Therapeutics: * Advancement and Potential Commercialization of BNC210 for Post-Traumatic Stress Disorder (PTSD): While the Phase 3 trial for BNC210 in social anxiety disorder (SAD) did not meet its endpoints and the program was discontinued for that indication, Neuphoria Therapeutics is continuing to evaluate BNC210 for chronic treatment of PTSD, based on prior positive chronic-dosing data. A successful clinical development path, regulatory approval, and subsequent launch of BNC210 for PTSD would be a significant driver of product revenue. * Outcomes of the Comprehensive Strategic Review: Neuphoria Therapeutics has initiated a comprehensive strategic review to explore various options, including mergers, acquisitions, partnerships, joint ventures, and licensing arrangements. Any successful outcome from this review, such as a substantial collaboration or the acquisition of the company or its assets, could generate significant upfront payments, milestone payments, or future royalties, thereby driving revenue. * Progression of the Collaboration with Merck & Co., Inc.: The company has an ongoing strategic collaboration with Merck & Co., Inc. focused on developing α7 receptor positive allosteric modulators for cognitive dysfunction associated with Alzheimer's disease and other central nervous system (CNS) conditions. As candidates from this collaboration advance through preclinical and clinical development, milestone payments from Merck could contribute to Neuphoria's revenue. * Development and Potential Licensing of Other Pipeline Candidates: Neuphoria Therapeutics also has other preclinical programs, including NextGen for multiple CNS indications and Kv3.1/3.2 agonists for cognitive deficits and negative symptoms in schizophrenia and autism spectrum disorders. Successful advancement of these programs could lead to future licensing agreements or partnerships, which could provide additional revenue streams through upfront payments and milestones. The company has also generated tens of millions in revenue from previous licensing agreements, indicating a potential for similar future deals.

    AI Analysis | Feedback

    Share Issuance

    • Neuphoria Therapeutics Inc. is believed to have issued over 3 million shares since October 20, 2025, resulting in more than 125% dilution since that date.
    • These shares were issued for average net proceeds of approximately $5 per share.
    • The company amended its Prospectus Supplement to register for the issuance of an additional $20 million of common stock.

    Inbound Investments

    • Lynx1 Capital Management LP, a ten percent owner, purchased 639,110 shares of common stock on October 21, 2025, totaling $3,283,108.
    • Neuphoria Therapeutics has a collaboration with Merck & Co., Inc. to develop α7 receptor positive allosteric modulators targeting cognitive dysfunction associated with Alzheimer's disease and other central nervous system conditions.
    • As of December 2025, the company had received multiple indications of interest as part of a strategic alternatives review.

    Peer Outperformance in Biotechnology

    null
    Share of Biotechnology constituents that NEUP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    47%
    of 453 industry peers · -28.7% return
    3Y
    —
    insufficient peer history
    5Y
    —
    insufficient peer history
    null
    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is NEUP's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 8.6%52.6%97.9% CAH 468% · MCK 380% · COR 183%
    Health Care Services 20 40.1%49.1%16.2% HIMS 271% · RDNT 137% · DGX 86%
    Health Care Facilities 25 1.3%24.8%0.5% THC 274% · NHC 254% · EHC 152%
    Managed Health Care 8 26.0%-1.0%-4.3% OSCR 78% · HQY 54% · ELV 3%
    Health Care Equipment 50 -3.3%13.8%-18.1% UFPT 358% · GKOS 297% · PLSE 160%
    Pharmaceuticals 61 -16.2%9.8%-32.5% LQDA 1113% · KNSA 770% · LLY 432%
    Health Care Supplies 11 19.3%1.8%-38.4% LNTH 337% · HAE 76% · MMSI 36%
    Life Sciences Tools & Services 107 -7.5%8.2%-65.2% NTRA 262% · AXGN 226% · MEDP 215%
    Biotechnology ← 365 -22.5%-17.6%-80.0% DNTH 1140% · ELVN 1127% · TRVI 1107%
    Health Care Technology 21 -30.9%-55.8%-82.1% VEEV 1% · DOCS -51%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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    TickerCompanyMkt Cap (B)1W RtnYTD Rtn
    BCAXBicara Therapeutics0.7-45.5%-42.0%
    AVTXAvalo Therapeutics0.3-41.9%-60.8%
    ORICORIC Pharmaceuticals1.0-32.9%13.7%
    MSGSMadison Square Garden Sports7.4-25.9%18.1%
    CORTCorcept Therapeutics9.1-25.8%147.9%
    INBXInhibrx Biosciences1.1-25.4%-7.2%
    CRSCarpenter Technology13.9-23.9%-10.9%
    SLMSLM3.3-22.4%-33.4%
    ENPHEnphase Energy3.3-21.9%-22.0%
    INODInnodata1.6-21.3%-6.5%

    Top Gainers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    BRZEBraze5.197.8%33.5%
    PRMEPrime Medicine0.973.5%54.5%
    DGICBDonegal-66.8%50.4%
    SGRYSurgery Partners3.061.3%50.4%
    DXCDXC Technology2.655.8%9.8%
    PACBPacific Biosciences of California0.954.6%51.3%
    NTSKNetskope10.653.6%51.2%
    RRCRange Resources13.151.5%59.7%
    RPDRapid71.251.0%16.3%
    APPNAppian3.847.1%46.7%

    Top Losers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    GLASGlass House Brands0.2-66.9%-74.6%
    AVTXAvalo Therapeutics0.3-54.3%-60.8%
    NUAINew Era Energy & Digital0.3-50.7%13.7%
    FMCFMC0.6-50.4%-67.1%
    SHAZSharonAI0.5-47.4%-69.2%
    BCAXBicara Therapeutics0.7-47.4%-42.0%
    BRUNBoost Run0.5-47.1%-58.0%
    AVBPArriVent BioPharma0.7-46.8%-21.8%
    CIFRCipher Digital3.6-46.3%-39.9%
    UNITUniti1.2-43.3%-30.7%

    More From Trefis

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    Peer Comparisons

    Peers to compare with:

    Financials

    NEUPVRTXABBVAMGNGILDREGNMedian
    NameNeuphori.Vertex P.AbbVie Amgen Gilead S.Regenero. 
    Mkt Price2.96548.49291.50469.00164.48833.56380.25
    Mkt Cap0.0139.2515.7253.3204.485.7171.8
    Rev LTM112,58764,38638,09530,45615,53522,995
    Op Inc LTM-94,77721,85011,42611,7164,1748,101
    FCF LTM-123,79618,21010,17512,9433,5756,986
    FCF 3Y Avg-91,95718,0768,7549,7363,4396,096
    CFO LTM-124,29319,50712,47813,5524,6818,580
    CFO 3Y Avg-92,39819,14310,31210,2964,4987,397

    Growth & Margins

    NEUPVRTXABBVAMGNGILDREGNMedian
    NameNeuphori.Vertex P.AbbVie Amgen Gilead S.Regenero. 
    Rev Chg LTM-92.5%10.2%10.4%9.1%5.5%9.3%9.2%
    Rev Chg 3Y Avg-9.8%4.9%12.8%3.6%7.0%7.0%
    Rev Chg Q8,950.3%12.5%10.2%9.5%10.2%16.7%11.3%
    QoQ Delta Rev Chg LTM8,950.3%3.0%2.5%2.4%2.4%4.1%2.8%
    Op Inc Chg LTM-986.6%2,497.9%59.5%39.5%7.6%6.1%23.5%
    Op Inc Chg 3Y Avg-792.2%11.2%12.3%-0.8%-1.7%11.2%
    Op Mgn LTM-767.3%37.9%33.9%30.0%38.5%26.9%32.0%
    Op Mgn 3Y Avg-23.9%27.5%24.5%37.0%28.2%27.5%
    QoQ Delta Op Mgn LTM--0.2%0.8%1.6%-1.6%1.1%0.8%
    CFO/Rev LTM-1,052.1%34.1%30.3%32.8%44.5%30.1%31.5%
    CFO/Rev 3Y Avg-19.6%32.4%29.3%35.2%31.2%31.2%
    FCF/Rev LTM-1,052.1%30.2%28.3%26.7%42.5%23.0%27.5%
    FCF/Rev 3Y Avg-15.7%30.6%24.9%33.3%23.9%24.9%

    Valuation

    NEUPVRTXABBVAMGNGILDREGNMedian
    NameNeuphori.Vertex P.AbbVie Amgen Gilead S.Regenero. 
    Mkt Cap0.0139.2515.7253.3204.485.7171.8
    P/S13.611.18.06.66.75.57.4
    P/Op Inc-1.829.123.622.217.520.521.3
    P/EBIT-1.827.644.419.5-213.616.418.0
    P/E-1.231.681.729.0-63.119.824.4
    P/CFO-1.332.426.420.315.118.319.3
    Total Yield-74.0%3.3%3.6%5.7%0.4%5.6%3.4%
    Dividend Yield0.0%0.0%2.4%2.2%2.1%0.5%1.3%
    FCF Yield 3Y Avg-1.6%4.5%4.9%6.8%4.9%4.9%
    D/E0.00.00.10.20.10.00.1
    Net D/E-1.2-0.00.10.20.1-0.10.0

    Returns

    NEUPVRTXABBVAMGNGILDREGNMedian
    NameNeuphori.Vertex P.AbbVie Amgen Gilead S.Regenero. 
    1M Rtn-18.9%3.9%10.1%12.2%8.1%10.8%9.1%
    3M Rtn-22.1%13.5%11.4%21.7%24.6%20.0%16.7%
    6M Rtn-43.0%29.6%44.9%40.6%29.2%21.8%29.4%
    12M Rtn-37.2%29.9%31.9%65.0%43.0%28.0%30.9%
    3Y Rtn-55.4%54.4%131.8%96.2%136.0%8.5%75.3%
    1M Excs Rtn-17.9%3.1%10.4%9.7%7.7%10.1%8.7%
    3M Excs Rtn-28.1%9.6%9.7%17.4%21.7%8.8%9.7%
    6M Excs Rtn-50.5%20.8%36.2%31.8%20.4%13.0%20.6%
    12M Excs Rtn-45.8%17.5%18.8%52.4%26.8%30.2%22.8%
    3Y Excs Rtn-129.0%-37.4%37.3%1.1%46.7%-80.0%-18.2%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 6/302026Q42026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q1
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date9/18/20265/15/20262/17/202611/14/20259/29/20255/20/20252/14/202511/14/20249/30/20245/20/20253/15/202411/14/2024
    Key Financials Quarterly            
    Total Revenue1000-015100000
    Ebitda-0-1-2-5-612-3-3-5-2-4-5
    Operating Income-0-1-2-6-612-3-4-5-2-4-5
    Net Income-5-12-10-911-2-1-3-3-5-5
    EPS-0.95-0.090.41-4.41-5.796.55-1.23-0.62-3.42-2.83-5.31-0.04
    Key Financials TTM            
    Total Revenue TTM1-015161616100---
    Ebitda TTM-8-14-1-2-00-14-15-17---
    Operating Income TTM-9-15-2-3-1-0-15-16-18---
    Net Income TTM-13-17-6-9-06-8-11-15---
    Growth Rates Quarterly            
    Total Revenue Growth8950.3%-100.0%-100.0%---------
    EBITDA Growth99.7%-105.5%32.5%-61.3%-6.8%644.8%24.7%35.8%----
    Operating Income Growth96.8%-106.9%31.0%-58.4%-6.5%600.1%23.8%34.7%----
    Net Income Growth44.8%-104.5%195.9%-1130.9%-230.6%505.4%57.3%85.3%----
    Margins Quarterly            
    EBITDA Margin-1.6%----80.9%-487.6%-----
    Operating Income Margin-15.7%----79.8%-512.6%-----
    Net Income Margin-417.7%----75.1%-293.2%-----
    Cash & Debt            
    Total Cash2019221414174813-10-
    Total Debt000000000010
    Net Debt / (Cash)-20-19-22-14-14-17-4-8-12--9-
    Cash Flows Quarterly            
    FCF from Operations1-3-6-4-411-3-4-3-3-4-4
    Cash Flows TTM            
    FCF from Operations TTM-12-17-2101-14-15-15---
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-0.4%-1.6%-4.8%-12.0%-12.4%26.8%-7.1%-6.5%-11.8%--11.1%-
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-4.5%-7.3%-0.9%-1.5%-0.2%-0.3%-7.7%-8.3%-9.7%---

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Discovery and development of allosteric ION channel modulators designed to transform the lives of160000
    Total160000


    Assets by Segment
    $ Mil2025202420232021
    Discovery and development of allosteric ION channel modulators designed to transform the lives of29282841
    Total29282841


    Price Behavior

    Price Behavior
    Market Price$3.36 
    Market Cap ($ Bil)0.0 
    First Trading Date12/24/2024 
    Distance from 52W High-38.7% 
       50 Days200 Days
    DMA Price$3.61$4.17
    DMA Trenddowndown
    Distance from DMA-6.9%-19.5%
     3M1YR
    Volatility21.3%54.4%
    Downside Capture46.40121.93
    Upside Capture-45.7768.67
    Correlation (S&P 500)3.5%22.8%
    NEUP Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta0.08-0.28-0.440.451.140.18
    Up Beta0.690.660.920.040.430.03
    Down Beta-0.28-0.58-5.070.560.50-0.09
    Up Capture-21%-71%-28%31%97%42%
    Bmk +ve Days6162766132424
    Stock +ve Days6142353110206
    Down Capture67%-9%91%99%171%105%
    Bmk -ve Days16263760120328
    Stock -ve Days11213465128215

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with NEUP
    NEUP-25.9%54.4%-0.36-
    Sector ETF (XLV)24.5%16.3%1.155.5%
    Equity (SPY)13.7%12.7%0.7221.5%
    Gold (GLD)1.8%28.3%0.054.4%
    Commodities (DBC)48.4%20.6%1.80-3.7%
    Real Estate (VNQ)2.8%13.9%-0.052.8%
    Bitcoin (BTCUSD)-29.4%43.4%-0.6815.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with NEUP
    NEUP-13.1%106.9%0.24-
    Sector ETF (XLV)8.3%15.2%0.347.2%
    Equity (SPY)12.7%17.1%0.5611.8%
    Gold (GLD)17.5%18.9%0.7413.7%
    Commodities (DBC)9.1%19.5%0.353.7%
    Real Estate (VNQ)0.6%18.9%-0.084.0%
    Bitcoin (BTCUSD)4.1%51.6%0.2612.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with NEUP
    NEUP-6.8%106.9%0.24-
    Sector ETF (XLV)11.7%16.7%0.577.2%
    Equity (SPY)15.5%17.9%0.7311.8%
    Gold (GLD)12.0%16.4%0.6013.7%
    Commodities (DBC)8.2%18.1%0.373.7%
    Real Estate (VNQ)5.0%20.7%0.204.0%
    Bitcoin (BTCUSD)62.3%66.2%1.0212.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity0.0 Mil
    Short Interest: % Change Since 9302026-67.9%
    Average Daily Volume0.0 Mil
    Days-to-Cover Short Interest1
    Basic Shares Quantity5.4 Mil
    Short % of Basic Shares0.1%

    Returns Analyses

    Earnings Returns History

    Updated 7/24/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/20/20252.4%20.7%25.9%
    SUMMARY STATS   
    # Positive111
    # Negative000
    Median Positive2.4%20.7%25.9%
    Median Negative   
    Max Positive2.4%20.7%25.9%
    Max Negative   
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/20/20252.4%20.7%25.9%
    SUMMARY STATS   
    # Positive111
    # Negative000
    Median Positive2.4%20.7%25.9%
    Median Negative   
    Max Positive2.4%20.7%25.9%
    Max Negative   

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202609/18/202610-K
    03/31/202605/15/202610-Q
    12/31/202502/17/202610-Q
    09/30/202511/14/202510-Q
    06/30/202509/29/202510-K
    03/31/202505/20/202510-Q
    12/31/202402/14/202510-Q
    09/30/202411/14/202410-Q
    06/30/202409/30/202410-K
    12/31/202303/15/20246-K
    06/30/202310/18/202320-F
    12/31/202202/23/20236-K
    06/30/202210/14/202220-F
    12/31/202102/23/20226-K
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202609/18/202610-K
    03/31/202605/15/202610-Q
    12/31/202502/17/202610-Q
    09/30/202511/14/202510-Q
    06/30/202509/29/202510-K
    03/31/202505/20/202510-Q
    12/31/202402/14/202510-Q
    09/30/202411/14/202410-Q
    06/30/202409/30/202410-K
    12/31/202303/15/20246-K
    06/30/202310/18/202320-F
    12/31/202202/23/20236-K
    06/30/202210/14/202220-F
    12/31/202102/23/20226-K

    Insider Activity

    Updated 4/26/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Lynx1, Capital Management LPSee footnoteBuy102320255.14639,1103,283,1084,496,560Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Lynx1, Capital Management LPSee footnoteBuy102320255.14639,1103,283,1084,496,560Form

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