NervGen Pharma (NGEN)
NASDAQ:NGEN
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NervGen Pharma
(NASDAQ:NGEN)
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Rating:44Neutral
Price Target:
$2.00
▼(-50.86% Downside)
Action:N/A
Date:06/17/26
The score is primarily constrained by weak financial performance (no revenue, large losses, and elevated cash burn implying ongoing financing needs) and bearish technical trends (price below major moving averages and negative MACD). Valuation is only moderately supportive since a negative P/E provides limited insight and no dividend yield is available.
Positive Factors
Regulatory alignment for Phase 3 (RESTORE)
FDA alignment on the RESTORE Phase 3 trial materially reduces regulatory uncertainty by locking in endpoints, timing and dosing. This durable de-risking improves trial design efficiency, strengthens interactions with regulators and payers, and supports a clearer path toward potential approval and commercialization.
Negative Factors
Pre-revenue with widening losses
NervGen remains fully pre-revenue and loss-making, with cumulative development expenses driving material negative earnings. Over the medium term this means company viability depends on successful clinical outcomes or repeat capital raises rather than operating cash flow, raising structural execution risk until commercialization.
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Positive Factors
Negative Factors
Regulatory alignment for Phase 3 (RESTORE)
FDA alignment on the RESTORE Phase 3 trial materially reduces regulatory uncertainty by locking in endpoints, timing and dosing. This durable de-risking improves trial design efficiency, strengthens interactions with regulators and payers, and supports a clearer path toward potential approval and commercialization.
Read all positive factors
NervGen Pharma (NGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$180.82M
Dividend YieldN/A
Average Volume (3M)135.64K
Price to Earnings (P/E)―
Beta (1Y)0.44
Revenue GrowthN/A
EPS Growth-51.73%
CountryUS
Employees7
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.37
Shares Outstanding82,193,140
10 Day Avg. Volume172,718
30 Day Avg. Volume135,636
Financial Highlights & Ratios
PEG Ratio1.67
Price to Book (P/B)82.04
Price to Sales (P/S)0.00
P/FCF Ratio-12.55
Enterprise Value/Market Cap2.19
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-9.48K
Enterprise Value/Ebitda-15.60
Forecast
1Y Price Target
$11.90Price Target Upside192.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.29
Revenue Forecast (FY)N/A
NervGen Pharma Business Overview & Revenue Model
Company Description
NervGen Pharma Corp. is a biotechnology enterprise currently in its clinical development phase, focused on devising therapeutic solutions for nerve injuries and progressive neurodegenerative diseases. Their innovative approach centers on deactivat...
How the Company Makes Money
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NervGen Pharma Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -41.85K | 0.00 | -83.74K | -145.01K | -114.10K | -42.95K |
| EBITDA | -25.42M | -5.65M | -23.91M | -22.24M | -19.92M | -12.78M |
| Net Income | -25.82M | -44.12M | -23.99M | -22.38M | -20.54M | -12.82M |
Balance Sheet | ||||||
| Total Assets | 13.08M | 23.21M | 19.47M | 13.24M | 23.67M | 18.03M |
| Cash, Cash Equivalents and Short-Term Investments | 11.40M | 22.07M | 17.35M | 11.66M | 22.25M | 17.06M |
| Total Debt | 33.23K | 8.37K | 105.53K | 197.21K | 280.96K | 0.00 |
| Total Liabilities | 16.02M | 19.73M | 16.90M | 15.25M | 10.32M | 1.09M |
| Stockholders Equity | -2.94M | 3.48M | 2.57M | -2.01M | 13.34M | 16.95M |
Cash Flow | ||||||
| Free Cash Flow | -16.76M | -19.50M | -16.83M | -11.30M | -17.65M | -8.33M |
| Operating Cash Flow | -16.76M | -19.50M | -16.83M | -11.30M | -17.63M | -8.33M |
| Investing Cash Flow | 100.93K | 100.93K | 58.83K | -138.87K | -20.92K | -45.43K |
| Financing Cash Flow | 7.33M | 23.76M | 22.68M | 766.35K | 22.44M | 19.76M |
NervGen Pharma Peers Comparison
UnderperformOutperform
Sector (51)
NGEN
NervGen Pharma
2.20
-0.48
-17.91%
TSE:DRUG
Bright Minds Biosciences
87.58
50.05
133.36%
TSE:MYND
MYND Life Sciences
0.07
0.00
0.00%
TSE:MBIO
Mindbio Therapeutics Corp.
0.47
-3.53
-88.25%
TSE:NURL
Neural Therapeutics Inc.
0.02
-0.02
-50.00%
NervGen Pharma Corporate Events
NervGen Pharma Raises US$60 Million in Underwritten Offering to Fund NVG-291 Program
Jun 1, 2026
On May 21, 2026, NervGen Pharma priced an underwritten U.S. public offering of 24 million common shares and accompanying warrants, raising approximately US$60 million in gross proceeds. The securities were offered at US$2.50 per share and warrant,...
NervGen Reports Objective Neural Recovery Signal for NVG-291 in Chronic SCI Ahead of Phase 3
May 26, 2026
On May 26, 2026, NervGen Pharma reported independently conducted, blinded biomechanical gait analyses showing that NVG-291 produced statistically significant improvements in gait quality versus placebo in chronic tetraplegia patients in its Phase ...
NervGen Pharma Launches Underwritten Public Offering to Fund NVG-291 Development
May 22, 2026
On May 21, 2026, NervGen Pharma announced it had commenced an underwritten public offering of common shares, pre-funded warrants and accompanying common share warrants, with all securities to be sold by the company and closing subject to customary...
NervGen Pharma Advances NVG-291 Toward Registrational Trial as Q1 2026 Loss Narrows
May 18, 2026
NervGen Pharma reported first-quarter 2026 results on May 18, highlighting progress on NVG-291 and its transition to a U.S.-focused capital markets presence. The company, now listed on Nasdaq under the ticker NGEN after delisting from the TSX Vent...
NervGen Pharma Narrows Quarterly Loss but Cash Reserves Decline in Q1 2026 Filing
May 15, 2026
On May 15, 2026, NervGen Pharma filed a Form 6-K for May 2026 with the U.S. Securities and Exchange Commission, furnishing unaudited condensed consolidated interim financial statements and related management certifications for the quarter ended Ma...
NervGen Pharma Names New CFO and Wins Shareholder Backing for 2026 Equity Plan
Apr 27, 2026
NervGen Pharma Corp., a clinical-stage biopharmaceutical company listed on Nasdaq and specializing in neuroreparative therapies for spinal cord injury and other neurologic conditions, is advancing its lead drug candidate NVG-291, which has receive...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.