Financial Performance - Neurogene reported a net loss of $16.9 million for Q1 2024, compared to a net loss of $12.3 million for Q1 2023, reflecting an increase of 37% year-over-year[8]. - Research and Development (R&D) expenses increased to $13.5 million in Q1 2024 from $10.3 million in Q1 2023, driven by higher clinical trial costs for NGN-401[8]. - General and Administrative (G&A) expenses rose to $5.2 million in Q1 2024, up from $2.8 million in Q1 2023, primarily due to increased compensation and professional fees[8]. - Total assets decreased to $195.4 million as of March 31, 2024, from $222.6 million as of December 31, 2023[13]. - Total liabilities decreased to $24.6 million as of March 31, 2024, from $36.5 million as of December 31, 2023[13]. Cash Position - Cash, cash equivalents, and investments as of March 31, 2024, were $169.5 million, with a cash runway projected into the second half of 2026[8]. Clinical Trials and Product Development - Neurogene presented favorable safety data from the NGN-401 gene therapy trial for Rett syndrome, indicating it has been well-tolerated in all three pediatric patients[3]. - The company remains on track to provide interim efficacy data from the NGN-401 trial in Q4 2024, with additional data expected in the second half of 2025[3]. - Neurogene has received approval from the Australian Human Research Ethics Committee to conduct the NGN-401 trial in Australia, expanding the trial to a third region[3]. - The company plans to advance an additional product candidate into the clinic in 2025, utilizing transgene regulation technology[5].
Neurogene(NGNE) - 2024 Q1 - Quarterly Results