** Shares of drug developer Neumora Therapeutics NMRA.O fall 43.8% to 99 cents premarket

** Co says it is discontinuing the development of its drug, navacaprant, for the treatment of major depressive disorder after it failed two late-stage trials

** NMRA says navacaprant did not meet the main or secondary goals during the trials

** Company also says it will reduce its workforce by about 35%, which it expects to result in annualized cost savings of about $10 million

** NMRA expects one-time restructuring costs of around $2 million

** Co expects its current cash and cash equivalents to provide runway into the third quarter of 2027

** Up to last close, NMRA stock mostly flat YTD