Neurogene down after $125 mln equity raise

Neurogene

01/07/2026 12:53

** Shares of gene therapy developer Neurogene NGNE.O down 1.7% at $30.90 in premarket trading on Weds after $125 mln equity raise
** Rare neurological diseases-focused firm early Weds announces pricing offering of 3.5 mln shares and pre-funded warrants to buy 666,666 shares at $30
** Offering price is 4.6% discount to stock's last sale on Tues
** Co intends to use net offering proceeds to fund clinical development and pre-commercial activities for its lead program NGN-401, its treatment for Rett syndrome, and for working capital and other purposes, per the prospectus
** Leerink, Stifel, Guggenheim, LifeSci Capital and William Blair joint bookrunners
** NGNE has ~15.8 mln shares outstanding
** At Tues close, stock up ~53% YTD
** All 9 analysts covering the stock are bullish including 4 "strong buy" ratings; median PT $69, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))