NMDA receptor antagonists work by blocking the action of glutamate, the primary excitatory neurotransmitter in the brain, at the NMDA receptor site. This blockage can modulate synaptic transmission and prevent excitotoxicity, a process where excessive glutamate causes neuronal injury and cell death. By inhibiting these receptors, NMDA antagonists can help in managing conditions like chronic pain, epilepsy, and neurodegenerative diseases.