• Adjustments have no impact on cash and cash equivalents, cash runway, or business operations.
  • Restatement is expected to reduce previously reported stock-based compensation expense, warrant liabilities, and accumulated deficit.

VANCOUVER, British Columbia, Sept. 25, 2026 (GLOBE NEWSWIRE) -- NervGen (NASDAQ:NGEN), a late-stage clinical biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions, today 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 revises the valuation of certain warrants and options, reducing previously reported stock-based compensation expense and warrant liabilities, with corresponding adjustments to unrealized gains and losses on warrant derivatives. The adjustments are non-cash and are expected to reduce previously reported non-cash operating expense and accumulated deficit.

The adjustments have no impact on the Company’s cash and cash equivalents, cash runway, or business operations.

The Company expects 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 expects 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.