Neurogene Inc. NGNE
Despite recent scientific advances in genetics, most neurological diseases, particularly those with devastating consequences to patients, are left untreated. Conventional gene therapy is an attractive potential treatment approach for only a limited number of monogenic diseases due to the challenges caused by the complex biology of neurological diseases and by inherent variable transgene uptake and expression. We are a clinical-stage biotechnology company committed to overcoming these limitations and turning today's complex devastating neurological diseases into treatable conditions. We are building a robust and differentiated product portfolio of genetic medicines for rare neurological diseases with high unmet need not otherwise addressable by conventional gene therapy. One approach we are taking harnesses our proprietary transgene regulation technology, EXACTTM (Expression Attenuation via Construct Tuning), that utilizes microRNA-based genetic circuits designed to deliver therapeutic levels of transgene to key areas of the brain that underlie neurological disease pathology.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $925.0K | $0 | — | — | — | — | $25.0M | — | — |
| R&D | $75.0M | $60.9M | $44.4M | $47.5M | $39.2M | — | — | $41.8M | $36.3M | $28.4M |
| SG&A | $28.3M | $22.6M | $11.2M | $9.0M | $21.5M | $17.2M | $18.8M | $15.8M | $14.9M | $9.3M |
| Total operating expenses | $103.3M | $83.5M | $55.6M | $56.5M | $60.7M | — | $71.0M | $57.6M | $51.1M | $37.6M |
| Operating income | -$103.3M | -$82.6M | -$55.6M | -$56.5M | -$60.7M | -$33.7M | -$71.0M | -$32.6M | -$51.1M | -$37.6M |
| Interest expense | $5.0K | $12.0K | $12.0K | $2.0K | $19.0K | — | $1.0K | $4.0K | $4.0K | $1.0K |
| Pre-tax income | -$90.4M | -$75.1M | -$36.3M | -$55.2M | -$60.7M | -$33.3M | -$69.4M | -$31.6M | -$50.2M | -$37.0M |
| Income tax | $0 | $0 | — | — | — | — | — | — | — | $0 |
| Net income | -$90.4M | -$75.1M | -$36.3M | -$55.2M | -$60.7M | -$33.3M | -$69.4M | -$31.6M | -$50.2M | -$37.0M |
| EPS, basic | -4.24 | -4.28 | — | -1.04 | -1.10 | -0.64 | — | — | — | — |
| EPS, diluted | -4.24 | -4.28 | — | -1.04 | -1.10 | -0.64 | -2.57 | -1.34 | -2.14 | -1.96 |
| Shares, diluted (wtd. avg.) | $21.3M | $17.6M | — | $55.2M | $55.0M | $51.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $103.8M | $136.6M | $148.7M | $82.0M | $70.5M | $193.4M | $143.1M | $76.9M | $52.0M | $32.3M |
| Short-term investments | $165.2M | $175.8M | $48.9M | $0 | $0 | — | — | — | — | — |
| Total current assets | $271.8M | $315.9M | $200.3M | $84.7M | $144.0M | $194.5M | $143.6M | $77.2M | $108.8M | $103.5M |
| Property, plant and equipment | $12.8M | $15.4M | $17.2M | $20.1M | — | $3.6M | $2.1M | $400.0K | $905.0K | $849.0K |
| Other intangibles | — | — | — | $0 | $128.0K | $347.0K | $567.0K | — | — | — |
| Total assets | $288.6M | $335.7M | $222.6M | $109.3M | $163.3M | $210.5M | $147.0M | $77.6M | $110.3M | $154.4M |
| Accounts payable | $2.0M | $1.3M | $2.6M | $625.0K | — | — | — | — | — | — |
| Total current liabilities | $16.4M | $15.2M | $23.0M | $6.7M | $8.6M | $7.9M | $4.7M | $4.6M | $11.0M | $9.5M |
| Total liabilities | $23.7M | $25.4M | $36.5M | $10.6M | $20.4M | $19.3M | $5.3M | $4.9M | $11.4M | $9.7M |
| Retained earnings | -$352.6M | -$262.3M | -$187.2M | -$150.8M | -$393.5M | -$332.8M | -$299.5M | -$230.1M | -$198.5M | -$148.3M |
| Total equity | $264.9M | $310.4M | $186.0M | -$145.7M | -$91.9M | $191.2M | $141.7M | $72.7M | $98.9M | $144.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$77.2M | -$70.6M | -$51.4M | -$52.8M | -$47.6M | -$24.6M | -$15.4M | -$31.6M | -$44.7M | -$30.2M |
| Depreciation and amortisation | $3.0M | $3.2M | $3.3M | $3.2M | $1.3M | $785.0K | $340.0K | $289.0K | $360.0K | — |
| Stock-based compensation | $14.2M | $8.3M | $1.4M | $1.3M | $11.6M | $5.6M | $7.7M | $4.7M | $3.8M | $2.0M |
| Capital expenditure | $1.2M | $808.0K | $321.0K | $2.2M | $3.3M | $2.2M | $879.0K | $49.0K | $494.0K | $713.0K |
| Investing cash flow | $14.0M | -$125.3M | $25.6M | -$2.2M | -$3.3M | -$2.2M | -$688.0K | $56.0M | $64.0M | -$48.1M |
| Financing cash flow | $30.4M | $184.1M | $92.5M | $66.5M | $732.0K | $77.1M | $82.2M | $570.0K | $423.0K | $71.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001404644-26-000027.
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