NervGen Pharma tumbles on stock-and-warrants offering

Toronto-Dominion Bank

21/05/2026 21:28

** NervGen Pharma NGEN.O shares down 22.8% post-market to $2.84 on equity raise news

** Canadian biopharma commences offering of stock, warrants and pre-funded warrants without disclosing deal size

** Intends to use net offering proceeds to fund advancement of its spinal cord injury drug, NVG-291, through clinical studies and for general corporate and working capital purposes

** Leerink and TD Cowen joint bookrunners

** NGEN shares finished down 1.6% at $3.68 on Thurs, down 34% YTD

** Co has roughly $300 mln market cap based on ~82.2 mln shares outstanding, per LSEG data

** All 7 analysts rate the stock "buy"; median PT $8.20

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))