Nervgen Pharma Corp Stock Price, News & Analysis

NervGen Pharma Corp. (NGENF), a clinical-stage biotech firm focused on nervous system damage treatments, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event will take place from August 13-15, 2024, at the InterContinental Boston Hotel.

Key points:

• CEO Mike Kelly will present on August 13, 2024, at 10:00 a.m. EDT
• Management will be available for one-on-one investor meetings
• A webcast of the presentation will be accessible online and available for replay after the event

This conference provides NervGen an opportunity to showcase its innovative solutions and engage with potential investors, potentially impacting its stock performance.

NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF), a clinical stage biotech company focused on treating nervous system damage, has granted stock options to employees and consultants. The company issued 30,000 options to employees, exercisable at $2.98 per share for 10 years, vesting equally every six months over two years. Additionally, 15,000 options were granted to existing consultants providing investor relations services, exercisable at the same price for five years, vesting equally every three months over one year. These options comply with TSX Venture Exchange policies and the company's stock option plan.

NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF) has appointed Neil Klompas to its Board of Directors. Klompas, a seasoned pharmaceutical executive, brings over two decades of experience in finance, licensing, and M&A in the US and Canadian markets. His expertise in building biotech startups with multiple development programs aligns with NervGen's mission to advance NVG-291, currently in a Phase 1b/2a clinical trial for spinal cord injury.

Klompas previously served as President and COO of Zymeworks Inc., overseeing its NYSE and TSX IPO. He has also held positions at KPMG LLP and board roles at Ovensa Inc. and Liminal Biosciences Inc. NervGen has granted Klompas 150,000 incentive stock options at $2.85 per share, vesting over one year.

NervGen Pharma announced the development of NVG-300, targeting ischemic stroke, ALS, and spinal cord injury (SCI). This new biologic molecule, discovered in 2022, shows efficacy in a challenging SCI model. NVG-300, upon successful preclinical validation, will be developed under the Biologics License Application framework, offering 12 years of market exclusivity post-approval. Intellectual property protection is expected beyond 2040. The company plans to conduct further preclinical studies, with results anticipated in early 2025. NVG-300 aims to diversify NervGen's pipeline, providing strategic options for future partnerships.

NervGen Pharma, a clinical-stage biotech company, will present at the 2nd Annual Spinal Cord Injury Investor Symposium on June 27, 2024. The event will be held in La Jolla, CA, and hosted by Lineage Cell Therapeutics, California Institute for Regenerative Medicine, and the Christopher & Dana Reeve Foundation.

Mike Kelly, NervGen's President & CEO, will deliver a corporate update at 2:00 p.m. PDT during the Clinical Spinal Cord Injury Session. NervGen focuses on developing treatments for nervous system damage, and this presentation highlights their efforts and progress in spinal cord injury research.

NervGen Pharma Corp. (TSXV: NGEN, OTCQX: NGENF) has granted 950,000 incentive stock options to its directors and consultants. These options are exercisable at $1.79 per share. Of the total, 400,000 options are exercisable for five years, vesting equally every three months over one year, while 550,000 options are exercisable for ten years, vesting equally every six months over two years. All options are granted in accordance with TSX Venture Exchange policies and the company's stock option plan. This move aligns with NervGen's commitment to developing treatments for nervous system damage.

NervGen Pharma (TSXV: NGEN, OTCQB: NGENF), a clinical-stage biotech firm focused on nervous system damage treatments, announced the outcomes of its Annual General Meeting (AGM) on June 4, 2024. All resolutions were approved.

Glenn Ives was elected Chair of the Board, and John Ruffolo was appointed Chair of the Audit Committee. The re-elected board members include Brian Bayley, Harold Punnett, Randall Kaye, Krista McKerracher, Craig Thompson, Adam Rogers, John Ruffolo, and Michael Kelly.

KPMG LLP was appointed as the auditors for the next year. Shareholders also approved amendments to the stock option plan, increasing the number of shares reserved for issuance.

NervGen Pharma (TSXV: NGEN, OTCQX: NGENF) will present two posters at the American Spinal Injury Association's 51st Annual Scientific Meeting from May 20-23, 2024, in Puerto Rico. Chief Medical Officer, Dr. Daniel Mikol, will present on May 20 about preclinical and clinical data suggesting motor evoked potentials (MEPs) as efficacy biomarkers in spinal cord injury (SCI) trials. On May 21, he will update on the baseline demographics of subjects in an ongoing Phase 1b/2a trial at Shirley Ryan AbilityLab, evaluating NVG-291's efficacy in chronic and subacute SCI patients using MEPs as biomarkers. This single-center trial aims to reduce variability in measurements, with initial results potentially supporting future Phase 2/3 trials.

NervGen Pharma (TSXV: NGEN, OTCQX: NGENF) reported its Q1 2024 financial results and operational updates. Key highlights include progress in the NVG-291 Phase 1b/2a clinical trial for spinal cord injury (SCI), though recruitment has been slower than expected. Enrollment targets for the chronic cohort have shifted to Q3 2024, with protocol amendments for the subacute cohort to enhance feasibility. The company completed a CA$23 million financing deal in March 2024, extending its cash runway to Q3 2025.

Financially, NervGen had $30.3 million in cash and investments as of March 31, 2024, up from $11.7 million at the end of 2023. The net cash burn for Q1 2024 was $3.3 million, offset by $21.4 million in net proceeds from financing and $0.6 million from exercised options. R&D expenses remained steady at $3.0 million, while G&A expenses increased to $2.0 million from $1.7 million in Q1 2023. The net loss for Q1 2024 was $2.3 million, or $0.04 per share, compared to a $4.7 million loss in Q1 2023.