NervGen to Restate Financials on Non-Cash Accounting Adjustments
NGEN sits 18% above its 52-week low of $1.58.
Summary
NervGen Pharma will restate previously filed financial statements to recognize non-cash accounting adjustments. The restatement follows a recent auditor change from KPMG Canada to KPMG US and a Q2 loss driven by a non-cash warrant derivative charge. The adjustments have no effect on cash and cash equivalents, cash runway, or business operations. The restatement is expected to reduce previously reported stock-based compensation expense, warrant liabilities, and accumulated deficit. NervGen expects to file restated audited financial statements for the year ended Dec. 31, 2025, including restated 2024 comparative figures and adjustment to Jan. 1, 2024, opening balances.
At the time of this announcement, NGEN was trading at $1.86 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $208.6M. The 52-week trading range was $1.58 to $6.30. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.