Neumora Therapeutics promoted Joshua Pinto to chief executive, about a year after he was named president of the biopharmaceutical company.

Pinto succeeds Paul Berns, who will assume the role of executive chairperson of the board.

Since joining the company in 2021 as finance chief, Pinto has served in roles of increasing responsibility. His experience in the biotech industry, coupled with his scientific expertise, position him well to lead Neumora, the company said Friday.

Neumora also appointed Doron Sagman as its chief medical officer. He brings with him more than two decades of executive leadership experience in clinical development, medical affairs, regulatory strategy and psychiatry.

The new appointments came as Neumora narrowed its second-quarter net loss to $43.1 million, or 23 cents a share, from a net loss of $52.7 million, or 33 cents a share, a year earlier.

The company said it had $116.8 million in cash and cash equivalents as of June 30, expected to enable the company to fund its operating plan into the third quarter of 2027.

Neumora continued to execute against its strategic priorities during the recent quarter, Berns said, advancing key programs across our pipeline and positioning itself for a series of meaningful clinical milestones.