nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "anticipate," "plan," "likely," "believe," "estimate," "project," "intend," "on track, " and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are based on current beliefs and assumptions that are subject to risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood, and degree of occurrence, which could cause actual results to differ materially from anticipated results and many of which are outside of Neurogene's control. Such risks, uncertainties and assumptions include, among other things:; the expected timing and results of dosing of patients in our Phase 1/2 clinical trial of NGN-401 for the treatment of Rett syndrome; the potential for negative impacts to the Company's Phase 1/2 clinical trial as a result of the previously announced SAE in a patient in the high-dose Cohort 2 of the trial; the risk that the Company may not be able to report our clinical trial data on the predicted timeline; risks related to the Company's ability to obtain regulatory approval for, and ultimately commercialize, our product candidates, including NGN-401; and other risks and uncertainties identified under the heading "Risk Factors" included in Neurogene's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission $(SEC.UK)$ on March 18, 2024, or its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and other filings that the Company has made and may make with the SEC in the future. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that the contemplated results of any such forward-looking statements will be achieved. Forward-looking statements in this communication speak only as of the day they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by applicable law, Neurogene undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
This communication contains hyperlinks to information that is not deemed to be incorporated by reference into this communication.
- Financial Tables Follow -
Neurogene Inc.
Condensed Consolidated Balance Sheets
(In thousands of U.S. dollars)
September 30, December 31,
2024 2023
--------------- --------------
Assets
Cash and cash equivalents $ 66,633 $ 148,210
Other current assets 77,014 52,138
Non-current assets 20,473 22,225
----------- ----------
Total assets $ 164,120 $ 222,573
=========== ==========
Liabilities
Current liabilities 15,800 22,973
Non-current liabilities 10,906 13,576
----------- ----------
Total liabilities 26,706 36,549
Stockholders' equity 137,414 186,024
----------- ----------
Total liabilities and stockholders' equity $ 164,120 $ 222,573
=========== ==========
Neurogene Inc.
Condensed Consolidated Statements of Operations
(In thousands of U.S. dollars, except share information)
Three Months Ended Nine Months Ended
September 30, September 30,
----------------------- -------------------------
2024 2023 2024 2023
---------- ------- ---------- -------
Revenue under
licensing
agreements $ -- $ -- $ 925 $ --
Operating expenses:
Research and
development
expenses 16,285 11,606 45,570 32,210
General and
administrative
expenses 5,895 3,613 16,448 8,640
---------- ------- ---------- -------
Total
operating
expenses 22,180 15,219 62,018 40,850
---------- ------- ---------- -------
Loss from
operations (22,180) (15,219) (61,093) (40,850)
Other income, net 1,963 642 5,463 2,150
---------- ------- ---------- -------
Net loss $ (20,217) $(14,577) $ (55,630) $(38,700)
========== ======= ========== =======
Per share
information:
---------- ------- ---------- -------
Net loss per share,
basic and diluted $ (1.19) $ (32.67) $ (3.29) $ (87.66)
========== ======= ========== =======
Weighted-average
shares of common
stock outstanding,
basic and diluted 16,953,443 446,255 16,932,976 441,498
View source version on businesswire.com: https://www.businesswire.com/news/home/20241118092522/en/
CONTACT: Company Contact:
Cara Mayfield
Vice President, Corporate Affairs
cara.mayfield@neurogene.com
Investor Contact:
Melissa Forst
Argot Partners
Neurogene@argotpartners.com
(END) Dow Jones Newswires
November 18, 2024 17:25 ET (22:25 GMT)