NervGen prices $60 million public offering at $2.50 per share

NervGen Pharma Corp. (NASDAQ: NGEN) announced the pricing of an underwritten public offering of 24 million common shares and accompanying warrants at $2.50 per share. The clinical-stage biopharmaceutical company expects gross proceeds of approximately $60 million before deducting underwriting costs and expenses.

Each share includes a warrant to purchase one additional common share at an exercise price of $3.68. The warrants are immediately exercisable upon issuance and expire five years from the issuance date. The offering is scheduled to close on May 26, 2026, subject to customary closing conditions.

The securities will be offered in all Canadian provinces and territories except Quebec. NervGen plans to use net proceeds, combined with existing cash and cash equivalents, to advance its lead therapeutic candidate NVG-291 through clinical studies and for general corporate and working capital purposes.

Leerink Partners and TD Cowen serve as joint bookrunning managers for the offering. The company is developing neuroreparative therapeutics for spinal cord injury and other neurologic conditions.

NVG-291 has received Fast Track designation from the U.S. Food and Drug Administration and Orphan Drug designation from the European Medicines Agency for spinal cord injury treatment. The subcutaneously administered peptide targets the inhibitory CSPG-PTPσ pathway.

The offering is conducted under a shelf registration statement filed with the Securities and Exchange Commission that became effective on January 7, 2026, according to the company's statement.

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