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  • NervGen Pharma Corp. (NGEN) reports strong financial and operational results for 2021
  • An update on the Phase 1 program received positive results with NVG-291
  • NervGen established three Clinical and Scientific Advisory Boards during the year
  • It expanded research activities in Alzheimer’s disease by entering new agreements
  • It completed four financings during the year raising aggregate gross proceeds of approximately $19 million
  • NervGen Pharma Corp. (NGEN) is down 1.97 per cent trading at $1.99 per share as of 11:39 a.m. EST

NervGen Pharma Corp. (NGEN) reports its strong financial and operational results for 2021.

The company received U.S. FDA clearance to proceed with the single ascending dose portion (SAD) of its NVG-291 Phase 1 clinical trial in females. In early May, NervGen dosed the first subject.

In October, an update on the Phase 1 program received positive results with NVG-291, and from the SAD partner of the study. NVG-291 was well tolerated and had favourable pharmacokinetic properties.

In December, the company received approval from Bellberry Limited’s Human Research Ethics Committee to proceed with the MAD portion of the trial which is currently ongoing.

NervGen established three Clinical and Scientific Advisory Boards during the year as it plans our upcoming studies and trials for Alzheimer’s disease, multiple sclerosis and spinal cord injury.

It expanded research activities in Alzheimer’s disease by entering agreements with Sylics Contract Research, Massachusetts General Hospital, and Imeka.

At the start of 2022, NervGen entered a Memorandum of Understanding with Shirley Ryan AbilityLab to perform its first clinical trial in spinal cord injury patients.

The company completed four financings during the year raising aggregate gross proceeds of approximately $19 million compared to $5.6 million from 2020.

Research and development expenses were $2.5 million and $6.9 million for last year, compared to $3.3 million and $6.2 million during the same time in 2020.

General and administrative expenses were $1.6 million and $5.9 million for the fiscal year, compared to $1.1 million and $5 million during 2020.

Net loss for 2021, including $4.1 million of non-cash expenses, was $12.7 million, or $0.32 per basic and diluted common share.

NervGen Pharma Corp. (NGEN) is down 1.97 per cent trading at $1.99 per share as of 11:39 a.m. EST.

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