NervGen Pharma Reports Third Quarter Financial Results and Provides Business Updates

Core Viewpoint - NervGen Pharma continues to demonstrate significant progress in the development of NVG-291, a potential first-in-class treatment for spinal cord injury, with promising clinical data supporting its efficacy in restoring function and improving quality of life for patients [3][4][6]. Pipeline Progress - The expanded CONNECT SCI Study data shows that NVG-291 leads to durable improvements in function, independence, and quality of life, with participants reporting a 2.6-fold greater mean improvement in GRASSP Total Score and a 3.7-fold greater mean improvement in GRASSP Quantitative Prehension compared to placebo [4][6]. - The FDA confirmed multiple regulatory pathways for NVG-291's approval, highlighting the significant unmet medical need for spinal cord injury treatments [6][8]. Financial Progress - On November 19, 2025, the company completed a non-brokered private placement, raising approximately US$10 million, which will support its anticipated Nasdaq listing [9]. - As of September 30, 2025, NervGen had cash and investments totaling US$11.4 million, a decrease from US$17.3 million at the end of 2024, primarily due to operational activities related to the CONNECT SCI Study [10]. Corporate Progress - In July 2025, the company appointed Adam Rogers, MD, as Interim Chief Executive Officer and Randall Kaye, MD, as Chief Medical Advisor to strengthen its leadership for the late-stage development of NVG-291 [10][12]. - The company is focused on advancing NVG-291 in collaboration with the spinal cord injury community and the FDA [3][8]. Research & Development Expenses - R&D expenses for the three months ended September 30, 2025, were US$4.4 million, consistent with the same period in 2024, reflecting higher costs for drug supply procurement and regulatory requirements [11]. General and Administrative Expenses - G&A expenses decreased to US$1.7 million for the three months ended September 30, 2025, from US$2.8 million in the same period in 2024, due to reduced non-cash stock-based compensation and lower legal and professional expenses [14]. Net Loss - The net loss for the three months ended September 30, 2025, was US$4.2 million, or US$0.06 per share, an improvement from a net loss of US$5.3 million, or US$0.08 per share, in the same period in 2024 [15]. About NVG-291 - NVG-291 is a therapeutic peptide that enables the nervous system to repair itself, with exclusive worldwide rights held by NervGen. The technology is based on studies showing its efficacy in promoting neurorepair and functional improvement in spinal cord injury models [16]. About NervGen - NervGen Pharma is a clinical-stage biopharmaceutical company focused on developing innovative therapies for neurotrauma and neurologic diseases, with its lead candidate NVG-291 currently in the Phase 1b/2a CONNECT SCI Study [17].