SoftBank-backed Neumora bags $2.51 billion valuation in lackluster debut

Shares of Neumora Therapeutics , which is backed by Amgen and Japan’s SoftBank , fell in their market debut on Friday, giving the company a market capitalization of $2.51 billion.

The Watertown, Massachusetts-based company’s shares debuted at $16.50 per share on Nasdaq, below the offer price of $17 apiece.