Neuphoria Scraps Social Anxiety Drug After Trial Failure; Minerva Doubles Down on Schizophrenia Therapy

Neuphoria Therapeutics has discontinued development of its lead drug candidate BNC210 for acute social anxiety disorder (SAD) after the AFFIRM-1 phase 3 trial failed to meet both primary and secondary efficacy endpoints.1 3 4 5 6 7 8

The AFFIRM-1 trial tested a single 225mg dose of BNC210 against placebo in a simulated public speaking challenge; results showed no statistically significant improvement in self-reported distress or secondary measures compared with placebo.1 3 4 5

The safety profile of BNC210 remained favorable and consistent with prior studies, despite lack of efficacy.1 4 5

Neuphoria shares dropped by about 67-68% following the announcement of the trial results.4 5 7

The company will cease further investment in its social anxiety program, initiate a strategic review of its pipeline, and focus on maximizing shareholder value.1 4 5

Neuphoria plans to explore further development of BNC210 for post-traumatic stress disorder (PTSD), citing previous positive results with chronic dosing in phase IIb studies.1 3 4 5

As of June 30, 2025, Neuphoria reported $14.2 million in cash, sufficient to fund operations into the second fiscal quarter of 2027.1 4 5

Neuphoria has an ongoing partnership with Merck & Co, collaborating on positive allosteric modulators; Merck is leading a phase 2 Alzheimer’s disease study under this partnership.1 4 5

Minerva Neurosciences, which was mentioned in the query presuming a parallel context, is not directly referenced in the recent Neuphoria news in these results, but is known for persisting in the development of therapies for schizophrenia (no direct update found here).