---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-100371"
form_type: "8-K"
ticker: "NEUP"
cik: "0001191070"
company_name: "Neuphoria Therapeutics Inc."
filed_at: "2025-10-20T23:59:59+00:00"
generated_at: "2026-05-17T03:11:28.160200+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Neuphoria Phase 3 trial of BNC210 for social anxiety disorder fails primary endpoint; SAD program discontinued

## Summary
- AFFIRM-1 Phase 3 trial did not meet primary endpoint of change in SUDS scores during speech challenge; secondary endpoints also not significant.
- Company discontinues further development of SAD program; plans full strategic review of operations and portfolio by year-end.
- Cash and equivalents $14.2M as of June 30, 2025; expected to fund operations through Q2 fiscal 2027.
- Ongoing Merck partnership: MK-1167 in Phase 2 for Alzheimer's; Neuphoria eligible for up to $450M in milestone payments plus royalties.
- Given prior chronic dosing data, Neuphoria will evaluate next steps for BNC210 in PTSD.

## SEC filing metadata
- accession: 0001213900-25-100371
- form_type: 8-K
- ticker: NEUP
- cik: 0001191070
- company_name: Neuphoria Therapeutics Inc.
- filed_at: 2025-10-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1191070/000121390025100371/0001213900-25-100371-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1191070/000121390025100371/ea0261841-8k_neuphoria.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-100371
- JSON: https://secwatch.observer/filing/0001213900-25-100371.json
- Plain text: https://secwatch.observer/filing/0001213900-25-100371.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.