A defining year ahead for evenamide

Newron Pharmaceuticals has reported its FY25 results, ahead of what will be an important year for lead asset evenamide in treatment-resistant schizophrenia (TRS). Key operational milestones include the initiation of both ENIGMA-TRS trials, continued patient enrolment across multiple regions and the start of the separate Phase III study in Japan by partner EA Pharma. The company recently also strengthened its financial position through a financing agreement in February 2026 and extended debt maturities with the European Investment Bank (EIB), providing visibility on funding through H127, past key upcoming clinical readouts expected from Q426. Reflecting recent progress, improved funding visibility and rolling our model forward, our valuat...