Company DescriptionNervGen Pharma Corp., together with its subsidiaries, engages in the discovery, development, and commercialization of pharmaceutical treatments for medical conditions related to nervous system damage. Its lead product candidate is NVG-291 that is in phase 1 clinical trial for the treatment of spinal cord injuries (SCI), multiple sclerosis, and Alzheimer's disease. The company has a licensing agreement with Case Western Reserve University to research, develop, and commercialize a patented technology with therapeutic potential for SCI and other conditions associated with nerve damage. NervGen Pharma Corp. was incorporated in 2017 and is based in Vancouver, Canada.

How the Company Makes Money

NervGen Pharma Financial Statement Overview

Summary

NervGen Pharma is facing typical financial challenges of a biotech in the R&D phase, with consistent losses and cash burn. While there's a strong cash position from recent financing, the lack of revenue and high expenses pose significant financial risks. An improvement in equity position does slightly enhance stability, but the overall financial health remains weak until revenue opportunities are realized.

Income Statement

Very Negative

NervGen Pharma shows a consistent lack of revenue generation, which is typical for early-stage biotechnology firms focusing on R&D. The company continues to record negative EBIT and EBITDA margins due to high operating expenses with no offsetting revenue. Net income remains negative, reflecting ongoing development costs without commercialized products.

Balance Sheet

Negative

The company's balance sheet reflects high liabilities compared to equity, resulting in a negative equity position in the previous year. However, this has improved to a positive, albeit low, equity in the TTM period. The debt-to-equity ratio and equity ratio indicate a risky capital structure, but the cash position is relatively strong due to recent financing activities.

Cash Flow

Negative

Despite negative operating cash flows, common in biotech development phases, NervGen Pharma has managed to maintain cash reserves through significant financing activities. However, the free cash flow remains negative, indicating ongoing cash consumption without revenue generation.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00
	Gross Profit
-83.80K	-145.00K	-115.11K	-42.63K	-39.65K
	EBIT
-24.93M	-17.78M	-22.82M	-12.87M	-11.19M
	EBITDA
-23.92M	-17.72M	-20.09M	-12.77M	-11.16M
	Net Income Common Stockholders
-24.01M	-22.38M	-18.11M	-12.64M	-11.18M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
17.36M	11.66M	22.45M	16.93M	5.60M
	Total Assets
19.49M	13.24M	23.88M	17.90M	6.68M
	Total Debt
105.60K	197.19K	283.45K	0.00	0.00
	Net Debt
-17.16M	-11.46M	-22.17M	-16.93M	-5.60M
	Total Liabilities
16.91M	15.25M	10.41M	1.08M	755.07K
	Stockholders Equity
2.58M	-2.01M	13.46M	16.82M	5.92M
Cash Flow		Free Cash Flow
-16.84M	-11.44M	-17.81M	-8.31M	-6.31M
	Operating Cash Flow
-16.84M	-11.30M	-17.78M	-8.27M	-6.31M
	Investing Cash Flow
58.87K	-138.85K	-21.11K	-45.09K	-3.42K
	Financing Cash Flow
22.70M	766.28K	22.64M	19.61M	7.85M

NervGen Pharma Peers Comparison

Overall Rating

UnderperformOutperform

Sector (54)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NGENF		$177.29M	―	-248.14%	―	―	―
Sector *	54 Neutral	$5.31B	3.29	-45.39%	2.79%	16.77%	-0.07%
MSCLF		$73.38M	―	-64.18%	―	―	―
ARCH	26 Underperform	C$122.59M	―	90.17%	―	―	-78.59%
FENC		$237.76M	―		―	―	―
DRUG	48 Neutral	C$271.08M	―	-11.21%	―	―	86.45%
EPRX	45 Neutral	C$193.35M	―	-108.05%	―	―	―

* Healthcare Sector Average

Performance Comparison

NGENF

NervGen Pharma

2.42

0.72

42.35%

MSCLF

Satellos Bioscience

0.41

<0.01

2.50%

TSE:ARCH

Arch Biopartners

1.86

0.11

6.29%

FENC

Fennec Pharmaceuticals

8.43

1.33

18.73%

TSE:DRUG

Bright Minds Biosciences

38.27

36.78

2468.46%

TSE:EPRX

Eupraxia Pharmaceuticals

5.31

1.63

44.29%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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