NervGen Pharma Announces Voluntary Delisting from TSX Venture Exchange
Rhea-AI Summary
NervGen (NASDAQ: NGEN) announced a voluntary delisting from the TSX Venture Exchange, effective at market close on March 16, 2026. The company will continue trading on Nasdaq under NGEN and no shareholder action is required.
The move aims to eliminate duplicate exchange fees, reduce legal/accounting and regulatory complexity, and let management focus on late-stage development of NVG-291. NervGen will remain a reporting issuer across Canadian provinces. The company also terminated its ATM program; from Jan 1–Mar 12, 2026 it issued 245 shares at a weighted average price of $6.20, for aggregate net proceeds of $1,489.
Positive
- Continued Nasdaq trading under NGEN
- Expected reduction in duplicative exchange fees
- Management focus on late-stage NVG-291 development
Negative
- Potential reduced Canadian-market visibility after TSXV exit
- Termination of ATM program removes an immediate equity financing tool
- ATM activity yielded only $1,489 net proceeds
News Market Reaction – NGEN
In the Mar 13 session, NGEN declined 6.98%, reflecting a notable negative market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 04 | Executive appointments | Positive | +8.1% | Hired senior regulatory and patient advocacy leaders to support NVG-291 advancement. |
| Feb 18 | Investor conferences | Positive | +1.2% | Announced participation in multiple investor conferences and 1x1 meetings. |
| Feb 12 | CFO retirement | Neutral | +2.4% | CFO retirement with planned transition support and search for successor. |
| Feb 11 | Clinical presentation | Positive | +0.0% | Planned presentation of CONNECT SCI study data at a science and advocacy symposium. |
| Feb 09 | CEO appointment | Positive | +2.6% | Appointed Adam Rogers as CEO, highlighting Nasdaq listing and NVG-291 progress. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent corporate and clinical updates have generally been followed by flat to modestly positive price moves, suggesting the stock has reacted constructively to operational progress.
Over the past month, NervGen has reported several corporate developments tied to advancing NVG-291 and its Nasdaq trajectory. Management changes, including appointing a permanent CEO and a new Chief Regulatory Affairs Officer, alongside conference participation and patient advocacy leadership, all emphasize late-stage preparation. These events produced small positive or flat moves, indicating steady reception. Today’s TSXV voluntary delisting and ATM termination continues that shift toward a single U.S. listing and operational focus, following the company’s broader maturation narrative.
Key Terms
tsx venture exchange regulatory
nasdaq regulatory
at-the-market equity program financial
reporting issuer regulatory
spinal cord injury medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
- The Company’s common shares will continue to trade on Nasdaq under the symbol “NGEN”
- No action is required; all shareholders, including Canadian shareholders, will continue to maintain full trading access on Nasdaq
VANCOUVER, British Columbia, March 12, 2026 (GLOBE NEWSWIRE) -- NervGen Pharma Corp. (“NervGen” or the “Company") (TSXV: NGEN) (NASDAQ: NGEN), a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions, today announced that the Company has elected to voluntarily delist its common shares from TSX Venture Exchange (“TSXV”), effective at the close of markets on March 16, 2026.
This strategic decision reflects NervGen’s continued maturity and aligns with the Company’s evolution as it enters late-stage development for NVG-291. Following a comprehensive evaluation, the Company determined that maintaining a dual listing on TSXV does not justify the associated costs and administrative requirements. The voluntary delisting is intended to eliminate duplicative exchange fees, reduce legal, accounting, and regulatory complexity, and enable greater management focus on clinical execution and long-term shareholder value creation.
All shareholders, including Canadian shareholders, will continue to maintain full trading access of their common shares on Nasdaq. No action is required by shareholders in connection with the voluntary delisting. Shareholders with account-specific questions are encouraged to contact their respective brokers.
The voluntary delisting from TSXV was approved by the Company's Board of Directors. In accordance with TSXV policies, shareholder approval is not required as the Company’s common shares are listed on an acceptable alternative market. NervGen will continue to be a reporting issuer under applicable securities laws in all provinces and territories of Canada.
In connection with the voluntary delisting from TSXV, the Company has terminated its previously announced at-the-market equity program (the “ATM Program”), launched on December 19, 2025. From January 1, 2026, through March 12, 2026, the Company issued 245 common shares under the ATM Program at a weighted average price of
About NervGen Pharma
NervGen Pharma Corp. (TSXV: NGEN) (NASDAQ: NGEN) is a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions. The Company’s mission is to transform the lives of individuals living with SCI by enabling the nervous system to repair itself. NervGen’s lead therapeutic candidate, NVG-291, is a subcutaneously administered, neuroreparative peptide. NVG-291 was evaluated in the Phase 1b/2a CONNECT SCI Study in individuals with chronic SCI between 1 to 10 years post-injury and is the first pharmacologic candidate to demonstrate durable improvement in function, independence, and quality of life. The Company’s Phase 1b/2a CONNECT SCI Study in individuals with subacute SCI is ongoing, alongside preparation for a Phase 3 clinical trial in chronic SCI. NVG-291 has received Fast Track designation from the FDA and Orphan Drug designation from the European Medicines Agency (EMA) for the treatment of SCI. Through NVG-291 and the Company’s next-generation candidate, NVG-300, NervGen is pursuing a pharmacologic approach to transform the treatment paradigm for neurotraumatic and neurologic conditions with significant unmet medical need. For more information, visit www.nervgen.com and follow NervGen on X and LinkedIn.
Contacts
Huitt Tracey, Investors
htracey@nervgen.com
604.537.2094
David Schull or Ignacio Guerrero-Ros, Ph.D., Media
Russo Partners
David.Schull@russopartnersllc.com
Ignacio.Guerrero-Ros@russopartnersllc.com
858.717.2310
Adam Rogers, President and CEO
info@nervgen.com
778.731.1711
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note and Forward Looking-Statements
This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Such forward-looking statements herein include but are not limited to, the Company’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, or any other future events or developments constitute forward-looking statements, and the words “may”, “will”, “would”, “should”, “could”, “expect”, “plan”, “intend”, “trend”, “indication”, “anticipate”, “believe”, “estimate”, “predict”, “likely” or “potential”, or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements include, without limitation, statements relating to: the benefits expected from the voluntary delisting from TSXV, including the elimination of duplicative exchange fees, reduction in legal, accounting and regulatory complexity, and enabling greater management focus on clinical execution and long-term shareholder value creation; the Company's evolution and maturity as it enters late-stage development for NVG-291; the Company’s potentially best-in-class candidate, NVG-291; the potential broad therapeutic applications of NVG-291; the future growth of the Company; the Company’s mission to transform the lives of individuals living with spinal cord injury; the Company’s pursuit to revolutionize the treatment paradigm for neurotraumatic conditions with significant unmet medical need; the objectives, planned clinical endpoints, timing, expected rate of enrollment, and final results from our Phase 1b/2a clinical trial of NVG-291 in individuals with spinal cord injury; and the creation of neuroreparative therapeutics to enable the nervous system to repair itself in settings of neurotrauma and neurologic disease. Forward-looking statements are based on estimates and assumptions made by the company in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. In making forward-looking statements, the Company has relied on various assumptions, including, but not limited to: its ability to obtain future funding on favorable terms, if at all; the accuracy of its financial projections; obtaining positive results in its clinical trials; its ability to obtain necessary regulatory approvals; its ability to arrange for the manufacturing of its product candidates and technologies; and general business, market and economic conditions. Many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the "Risk Factors" section of the Company’s most recently filed prospectus supplement, short form base shelf prospectus, annual information form, financial statements and management discussion and analysis all of which can be found on NervGen’s profile on SEDAR+ at www.sedarplus.ca and in NervGen’s Form F-10/A filed on EDGAR at www.edgar.com. All clinical development plans are subject to additional funding. Readers should not place undue reliance on forward-looking statements made in this news release. Furthermore, unless otherwise stated, the forward-looking statements contained in this news release are made as of the date of this news release, and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
