--- title: "NervGen reports $16.6 million cash and investments" url: "https://aibio.space/news/nervgen-reports-16-6-million-cash-investments-after-nasdaq-listing/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-18" section: "Listings" tickers: "NASDAQ:NGEN" source: "https://www.sec.gov/Archives/edgar/data/1751912/000110465926063212/tm2614980d1_ex99-1.htm" summary: "NervGen's first-quarter net loss narrowed on a non-cash warrant gain, while its annual filing shows a 2025 net loss of CAD 44.1 million. The company says a" --- By the aibio.space news desk. Sources - [NervGen Pharma Corp. 6-K (2026-05-18)](https://www.sec.gov/Archives/edgar/data/1751912/000110465926063212/tm2614980d1_ex99-1.htm) - [NervGen Pharma Corp. 40-F (2026-03-31): business](https://www.sec.gov/Archives/edgar/data/1751912/000110465926037357/tmb-20251231x40f.htm) - [NervGen Pharma Corp. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1751912/000110465926037357/) [NGEN](https://aibio.space/companies/nervgen-pharma/) 2026-05-18 # NervGen reports $16.6 million cash and investments after Nasdaq listing Tickers [NGEN](https://aibio.space/companies/nervgen-pharma/) NervGen's first-quarter net loss narrowed on a non-cash warrant gain, while its annual filing shows a 2025 net loss of CAD 44.1 million. The company says all its clinical plans remain subject to more funding. ## Key facts - **Company**: NervGen Pharma Corp. (NASDAQ: NGEN) - **News type**: Listings - **Primary source**: [NervGen Pharma Corp. 6-K (2026-05-18)](https://www.sec.gov/Archives/edgar/data/1751912/000110465926063212/tm2614980d1_ex99-1.htm) *Stone columns of a government building. Photo: The Building Envelope, CC0, via StockSnap. The picture shows the field, not the companies named.* NervGen Pharma Corp. (Nasdaq: [NGEN](https://aibio.space/companies/nervgen-pharma/)) reported first-quarter 2026 results on May 18, 2026. It had cash and investments of $16.6 million at March 31, 2026. The company listed on Nasdaq under the symbol NGEN on January 8, 2026, and in March 2026 it voluntarily delisted its common shares from the TSX Venture Exchange. ### A narrower loss, helped by a warrant gain Research and development expenses rose to $4.9 million in the quarter from $3.1 million a year earlier. General and administrative expenses fell to $2.7 million from $2.9 million. The net loss was $1.7 million, or $0.02 per basic share, against $3.9 million, or $0.06 per share, in the same quarter of 2025. The company says the smaller loss reflects a $5.7 million non-cash unrealized gain on its warrant derivative, compared with a $2.0 million gain a year earlier. Higher operating expenses tied to preparation for the RESTORE registrational study partly offset that gain. The release also reports diluted loss per share of $0.09, well above the basic figure, and does not explain the gap. ### The 2025 annual filing NervGen's annual report on Form 40-F, filed March 31, 2026, reports in Canadian dollars. It shows a net loss of CAD 44.1 million for 2025, against CAD 24.3 million for 2024. Cash used in operations was CAD 19.5 million in 2025, compared with CAD 16.8 million a year earlier. Year-end cash and cash equivalents were CAD 22.1 million at December 31, 2025, up from CAD 17.3 million. Research and development expense fell to CAD 13.9 million from CAD 15.8 million. The quarterly release does not name the currency of its dollar figures and does not convert the year-end figure, so the two cannot be compared directly from the release. The 40-F cover page reports 79,649,257 common shares outstanding at the close of 2025. ### The RESTORE study and the FDA NervGen says it completed an End-of-Phase 2 meeting with the U.S. Food and Drug Administration and reached agreement on the study parameters for RESTORE, a registrational study of NVG-291 in chronic tetraplegia. Site activation is underway, and the company says study initiation is on track for mid-2026. NVG-291 is a subcutaneously given peptide designed to target the CSPG-PTPσ pathway. The company calls it the first pharmacologic candidate to improve function, independence and quality of life in chronic tetraplegia, citing its Phase 1b/2a CONNECT SCI study. That claim comes from the company, and the release does not give the trial's size. The company also says independent, blinded biomechanical gait analyses of CONNECT SCI are still running. The analyses are meant to separate genuine neural recovery from compensatory movement, and NervGen expects results in the second quarter of 2026. Until those results arrive, the recovery claim rests on the trial's own data. NVG-291 holds FDA Fast Track designation and European Medicines Agency Orphan Drug designation for spinal cord injury. ### Management additions The company added three senior executives in the quarter. Keith Vendola became chief financial officer; he previously held that role at Wugen and IO Biotech. Shamim Ruff joined as chief regulatory affairs officer, after posts at Stoke Therapeutics and Sarepta Therapeutics. Christine McSherry was named senior vice president of patient advocacy and clinical affairs; she co-founded the clinical research organization Casimir. The company says the appointments support late-stage development and its Nasdaq listing. ### What comes next NervGen expects to start RESTORE in mid-2026, to present the CONNECT SCI gait analyses in the second quarter, and to communicate an indication prioritization framework in mid-2026. Chief Executive Officer Adam Rogers said the company is "firmly in execution mode." The release does not say how long the $16.6 million in cash and investments will last, and it does not describe how the RESTORE study will be financed. The company's own forward-looking note says "All clinical development plans are subject to additional funding." [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story NGEN NervGen Pharma Corp. 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Cite as: aibio.space, "NervGen reports $16.6 million cash and investments", 2026-05-18, https://aibio.space/news/nervgen-reports-16-6-million-cash-investments-after-nasdaq-listing/