- NervGen Pharma (V.NGEN) releases its Q1 2023 results
- The company said dosing for a Phase 1 clinical trial has been completed
- Data from the trial is currently being analyzed, but NVG-292 was well tolerated overall
- A Phase 1b/2a clinical study of NVG-291 in people with chronic and subacute spinal cord injuries will begin in Q3 2023
- The company’s goal is to have topline results in 2024
- Shares of NervGen Pharma (V.NGEN) are up 0.63 per cent to C$1.61 as of 10:49 a.m. EDT
NervGen Pharma (V.NGEN) has announced its Q1 2023 financial results.
As of March 31, 2023, cash and investments totaled $18 million. Research and development expenses were $3 million.
Additionally, the company said dosing for a Phase 1 trial of its lead drug candidate NVG-291 has been completed.
NVG-291 aims to repair mechanisms in the nervous system including axonal regeneration, remyelination and plasticity.
Patient dosing in 70 patients was completed in February, while data from the trial is currently being analyzed.
Overall, the company said NVG-291 was well tolerated.
“We are encouraged by the progress we have made in the clinical development of NVG-291 in the last quarter. Moving forward with a clinical trial in individuals with spinal cord injury (SCI) is an important next step for the company and for individuals and families impacted by SCI,” Mike Kelly, CEO of NervGen, said in a statement.
Moving forward, NervGen sad it anticipates beginning a Phase 1b/2a clinical trial of NVG-291 in patients with spinal cord injury in Q3 2023.
Shares of NervGen Pharma (V.NGEN) are up 0.63 per cent to C$1.61 as of 10:49 a.m. EDT.
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