VANCOUVER, British Columbia - NervGen Pharma Corp. (NASDAQ:NGEN) announced Wednesday the pricing of an underwritten public offering of 24,000,000 common shares and accompanying warrants.
The clinical-stage biopharmaceutical company is selling common shares at $2.50 per share with accompanying warrants. Each warrant has an exercise price of $3.68, is immediately exercisable, and expires five years from issuance.
Gross proceeds, before underwriting discounts and expenses, are expected to be approximately $60.0 million. The offering is expected to close on May 26, 2026, subject to customary conditions.
NervGen intends to use net proceeds to advance NVG-291 through clinical studies and for general corporate purposes. The company reported a loss per share of $0.40 over the last twelve months.
The offering is made pursuant to a prospectus supplement dated December 15, 2025, and a shelf registration statement on Form F-10 filed with the SEC on December 17, 2025.
NervGen develops neuroreparative therapeutics for spinal cord injury and other neurologic conditions. Its lead candidate, NVG-291, has received Fast Track designation from the FDA and Orphan Drug designation from the EMA.
