CervoMed raises $10 million in registered direct stock offering

CervoMed Inc. (NASDAQ: CRVO), a clinical-stage biotechnology company, announced a registered direct offering of 2,500,000 shares of common stock at $4.00 per share, with gross proceeds expected to total $10 million before placement agent fees and other expenses.

The offering is priced at-the-market under Nasdaq rules. Closing is expected on or about June 22, 2026, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent.

The company said it intends to use net proceeds for working capital and general corporate purposes. The shares are being offered under a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on October 10, 2024.

CervoMed is developing neflamapimod, an oral small molecule targeting neuroinflammation and neurodegeneration. The company announced alignment with the U.S. Food and Drug Administration on a potential registration path for neflamapimod in dementia with Lewy bodies in November 2025. The company noted that initiation of a Phase 3 trial remains subject to securing a partnership and additional financing.

The company also recently completed enrollment in a Phase 2a trial evaluating neflamapimod in nonfluent variant primary progressive aphasia, with interim biomarker data anticipated in the early fourth quarter of 2026.

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