NervGen Q2 Loss Widens on Warrant Charge; Phase 3 RESTORE Screening Set for September

summarizeSummary

NervGen reported Q2 2026 results with a C$29.2M net loss, largely from a non-cash warrant derivative charge, and confirmed Phase 3 RESTORE screening begins September 2026 with cash runway through 1H 2028.

check_boxKey Events · Earnings and Guidance · NGEN

• Q2 Net Loss Driven by Non-Cash Warrant Charge

  Net loss was C$29.2M for Q2 2026, including a C$19.4M non-cash unrealized loss on warrant derivatives. The warrant derivative is remeasured each period and does not reflect operating performance or cash requirements.

• Cash Runway Through 1H 2028

  Cash and cash equivalents totaled C$86.8M (US$61.1M) as of June 30, 2026, which management expects to fund operations through the anticipated topline data readout from the Phase 3 RESTORE study in 1H 2028.

• Phase 3 RESTORE Screening Begins September 2026

  Site activation and screening for the Phase 3 RESTORE study of NVG-291 in chronic spinal cord injury is expected to begin in September 2026, with the first participant anticipated to be dosed shortly thereafter.

• New ATM Program Established, No Shares Sold

  On July 2, 2026, the company established a new at-the-market equity program for up to US$50 million in common shares. Through the date of the release, no common shares have been sold under the ATM program.

auto_awesomeAnalysis · NGEN · Life Sciences

NervGen reported a C$29.2M net loss for Q2 2026, driven largely by a C$19.4M non-cash warrant derivative remeasurement loss. The company holds C$86.8M in cash, which management says funds operations through the anticipated RESTORE topline readout in 1H 2028. Site activation and screening for the Phase 3 RESTORE study is expected to begin in September 2026, with the first participant dosed shortly thereafter. The warrant derivative loss is a non-cash mark-to-market change driven by the share price, not a cash outflow or new dilution.