NervGen Restates Financial Statements for 2025 and 2026

VANCOUVER, British Columbia, Sept. 25, 2026 /CourierPR/ -- NervGen, a late-stage clinical biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions, announced it will restate its audited annual financial statements for the year ended December 31, 2025, and its unaudited interim financial statements for the quarter ended June 30, 2026. The restatement is expected to reduce previously reported stock-based compensation expense, warrant liabilities, and the accumulated deficit.

The adjustments, which are non-cash in nature, will revise the valuation of certain warrants and options. According to the company, these changes will reduce the previously reported stock-based compensation expense and warrant liabilities, with corresponding adjustments to unrealized gains and losses on warrant derivatives. The restatement will have no impact on the company’s cash and cash equivalents, cash runway, or business operations.

NervGen plans to file restated audited financial statements and related management’s discussion and analysis for the year ended December 31, 2025, including restated 2024 comparative figures and an adjustment to January 1, 2024, opening balances. The company also intends to file restated unaudited interim financial statements and related management’s discussion and analysis for the quarter ended June 30, 2026. The company expects to complete these filings as soon as feasible and remains on track to report its third-quarter 2026 financial results.

NervGen’s lead therapeutic candidate, NVG-291, is a subcutaneously administered neuroreparative peptide designed to target the inhibitory CSPG-PTPσ pathway. NVG-291 is the first pharmacologic candidate to improve function, independence, and quality of life in chronic SCI, as observed in the Phase 1b/2a CONNECT SCI study. NVG-291 has received Fast Track designation from the FDA and Orphan Drug designation from the European Medicines Agency for the treatment of SCI.

Through NVG-291 and the company’s next-generation candidate, NVG-300, NervGen is pursuing a pharmacologic approach to transform the treatment paradigm for neurotraumatic and neurologic conditions with significant unmet medical need. The company’s mission is to transform the lives of individuals living with SCI by enabling the nervous system to repair itself.

The company’s management believes that the restatement will provide a more accurate reflection of its financial position and will help stakeholders better understand its financial performance. NervGen remains focused on advancing its pipeline of neuroreparative therapeutics to address the needs of patients suffering from SCI and other neurotraumatic and neurologic conditions.