Neumora (NMRA) insider buy: 1.92M shares disclosed by ARCH

Rhea-AI Filing Summary

Neumora Therapeutics (NMRA) insider filing reports an open-market purchase by affiliated ARCH Venture funds. On 10/27/2025, the reporting persons acquired 1,915,700 shares of common stock at $2.61 per share, reported as indirectly owned.

Following the transaction, indirect beneficial holdings were listed as: 6,046,907 shares by ARCH Venture Fund XII, L.P.; 1,387,228 by ARCH Venture Fund VII, L.P.; 2,321,566 by ARCH Venture Fund VIII Overage, L.P.; 12,205,379 by ARCH Venture Fund X, L.P.; and 11,886,758 by ARCH Venture Fund X Overage, L.P. The filing is a joint submission, and a director relationship is indicated.

Insights

Equity Ownership and Governance Analyst

Large insider purchase by a director/10% owner at $2.61; increases indirect holdings, no cash to the company.

On 10/27/2025, ARCH-affiliated entities reported an open-market purchase (code "P") of 1,915,700 shares of **Neumora Therapeutics, Inc.** at $2.61 per share, held indirectly by **ARCH Venture Fund XII, L.P.** Post-transaction, that fund reports 6,046,907 shares. Other ARCH funds report indirect beneficial ownership of 1,387,228 (ARCH VII), 2,321,566 (ARCH VIII Overage), 12,205,379 (ARCH X), and 11,886,758 (ARCH X Overage) shares.

This is a director and 10% owner transaction, which signals increased exposure but does not affect the company’s cash since it is an open-market buy. The filing clarifies complex control relationships and disclaims beneficial ownership beyond pecuniary interests. The mechanism concentrates governance influence through affiliated funds while preserving indirect ownership structure.

Key dependencies are ongoing reporting and any further changes in indirect holdings by these entities. Points to watch include additional Form 4 activity by **ARCH** entities and any changes to director/10% owner status. The near-term lens is the next few weeks for follow-on filings; medium term extends through upcoming reporting periods for ownership updates.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ARCH Venture Partners XII, LLC

(Last) (First) (Middle)

8755 W. HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Neumora Therapeutics, Inc. [ NMRA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/27/2025		P		1,915,700	A	$2.61	6,046,907	I	By ARCH Venture Fund XII, L.P.(1)
Common Stock								1,387,228	I	By ARCH Venture Fund VII, L.P.(2)
Common Stock								2,321,566	I	By ARCH Venture Fund VIII Overage, L.P.(3)
Common Stock								12,205,379	I	By ARCH Venture Fund X, L.P.(4)(6)
Common Stock								11,886,758	I	By ARCH Venture Fund X Overage, L.P.(5)(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

ARCH Venture Partners XII, LLC

(Last) (First) (Middle)

8755 W. HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

ARCH Venture Partners XII, L.P.

(Last) (First) (Middle)

8755 W. HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

ARCH Venture Fund XII, L.P.

(Last) (First) (Middle)

8755 W. HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

CRANDELL KEITH

(Last) (First) (Middle)

8755 WEST HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

GILLIS STEVEN

(Last) (First) (Middle)

8755 WEST HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

NELSEN ROBERT

(Last) (First) (Middle)

8755 W. HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BYBEE CLINTON

(Last) (First) (Middle)

C/O ARCH VENTURE PARTNERS IX, LLC

8755 W. HIGGINS ROAD, SUITE 1025

(Street)

CHICAGO IL 60631

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Represents shares held directly by ARCH Venture Fund XII, L.P. (ARCH XII). ARCH Venture Partners XII, L.P. (AVP XII LP) is the general partner of ARCH XII. ARCH Venture Partners XII, LLC (AVP XII LLC) is the general partner of AVP XII LP. Keith Crandell, Kristina Burow, Steven Gillis and Robert Nelsen comprise the investment committee of AVP XII LLC (the AVP XII LLC Committee Members). Each of AVP XII LP and AVP XII LLC may be deemed to beneficially own the shares held by ARCH XII, and each of the AVP XII LLC Committee Members may be deemed to share the power to direct the disposition and vote of the shares held by ARCH XII. Each of AVP XII LP, AVP XII LLC and the AVP XII LLC Committee Members disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any.

2. Represents shares held directly by ARCH Venture Fund VII, L.P. (ARCH VII). ARCH Venture Partners VII, L.P. (AVP VII LP) is the sole general partner of ARCH VII, and ARCH Venture Partners VII, LLC (AVP VII LLC) is the sole general partner of AVP VII LP. Clinton Bybee, Keith Crandell and Robert Nelsen are the managing directors of AVP VII LLC (AVP VII LLC Managing Directors). AVP VII LP and AVP VII LLC may be deemed to beneficially own the shares held by ARCH VII, and each of the AVP VII LLC Managing Directors may be deemed to share the power to direct the disposition and vote of the shares held by ARCH VII. Each of AVP VII LP, AVP VII LLC and the AVP VII LLC Managing Directors disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any.

3. Represents shares held directly by ARCH Venture Fund VIII Overage, L.P. (ARCH VIII Overage). ARCH Venture Partners VIII, LLC (AVP VIII LLC) is the general partner of ARCH VIII Overage. Clinton Bybee, Keith Crandell and Robert Nelsen are the managing directors of AVP VIII LLC (the AVP VIII LLC Managing Directors). AVP VIII LLC may be deemed to beneficially own the shares held by ARCH VIII Overage, and each of the AVP VIII LLC Managing Directors may be deemed to share the power to direct the disposition and vote of the shares held by ARCH VIII Overage. Each of AVP VIII LLC and the AVP VIII LLC Managing Directors disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any.

4. Represents shares held directly by ARCH Venture Fund X, L.P. (ARCH X). ARCH Venture Partners X, L.P. (AVP X LP) is the sole general partner of ARCH X.

5. Represents shares held directly by ARCH Venture Fund X Overage, L.P. (ARCH X Overage). ARCH Venture Partners X Overage, L.P. (AVP X Overage LP) is the sole general partner of ARCH X Overage.

6. ARCH Venture Partners X, LLC (AVP X LLC) is the sole general partner of each of AVP X LP and AVP X Overage LP. Keith Crandell, Kristina Burow, Steven Gillis and Robert Nelsen comprise the investment committee of AVP X LLC (the AVP X Committee Members). AVP X LLC may be deemed to beneficially own the shares held by ARCH X and ARCH X Overage, and each of the AVP X Committee Members may be deemed to share the power to direct the disposition and vote of the shares held by ARCH X and ARCH X Overage. Each of AVP X LP, AVP X Overage LP, AVP X LLC and the AVP X Committee Members disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein, if any.

Remarks:

This Form 4 is filed jointly by ARCH X, AVP X LP, ARCH X Overage, AVP X Overage LP, AVP X LLC, ARCH VII, AVP VII LP, AVP VII LLC, ARCH VIII Overage, AVP VIII LLC, ARCH XII, AVP XII LP, AVP XII LLC, Robert Nelsen, Steven Gillis, Keith Crandell, Clinton Bybee (collectively, the "Reporting Persons"). Kristina Burow has direct ownership of Common Stock and is filing her own Form 4 separately.

	ARCH Venture Fund XII, L.P. By: ARCH Venture Partners XII, L.P., its General Partner By: ARCH Venture Partners XII, LLC, its General Partner By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	ARCH Venture Partners XII, L.P. By: ARCH Venture Partners XII, LLC, its General Partner By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	ARCH Venture Partners XII, LLC By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	Keith Crandell, Managing Director, By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	Steven Gillis, Managing Director, By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	Robert Nelsen, Managing Director, By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	Clinton Bybee, Managing Director, By: /s/ Mark McDonnell, as Attorney-in-Fact	10/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did NMRA insiders report in this Form 4?

Affiliated ARCH Venture funds reported buying 1,915,700 shares of NMRA common stock at $2.61 on 10/27/2025.

Who are the reporting persons in NMRA’s filing?

Multiple ARCH Venture entities filed jointly, including ARCH VII, ARCH VIII Overage, ARCH X, ARCH X Overage, and ARCH XII, among others.

How are the shares held after the transaction?

The shares are reported as indirectly owned through various ARCH Venture funds and their general partners.

What are the post-transaction holdings by ARCH XII, L.P.?

ARCH Venture Fund XII, L.P. reported 6,046,907 shares beneficially owned following the transaction.

What are the post-transaction holdings by ARCH X, L.P. and ARCH X Overage, L.P.?

ARCH X, L.P. reported 12,205,379 shares; ARCH X Overage, L.P. reported 11,886,758 shares.

Was a director relationship indicated in the NMRA Form 4?

Yes. The filing indicates a Director relationship for the reporting person(s).

Was the transaction part of a Rule 10b5-1 plan?

The form includes a 10b5-1 plan checkbox reference, but the excerpt does not show it as selected.