NERVGEN PHARMA CORP - NGENF STOCK NEWS

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.

NervGen Pharma Corp. (TSXV: NGEN) (OTCQX: NGENF) announced the filing of its Management Information Circular for the upcoming 2024 Annual General Meeting of Shareholders on June 4, 2024. Bill Radvak, the current Chairman, will transition to a Board Advisor role and will not stand for re-election. The Company is appointing a new chairperson and seeking a new board candidate. The Circular includes details on voting, board elections, auditor appointment, and Stock Option Plan revisions.

NervGen Pharma Corp. has engaged Russo Partners for public relations services. The agreement is for a minimum of three months with a cash compensation not exceeding US$200,000 in the first twelve months. Russo Partners will provide media and public relations services for NervGen, a biotech company focused on nervous system damage treatment.

NervGen Pharma reported its 2023 year-end financial results and operational updates, highlighting the completion of enrollment for the Phase 1b/2a clinical trial, CA$23 million financing, and Fast Track designation by the FDA for NVG-291 in spinal cord injury. The company aims to demonstrate the potential of NVG-291 in repairing nervous system damage, with plans to fund clinical trials and research activities through Q3 2025.