Quarterly ResultMay 12, 2026, 04:08 PM
Neurogene Q1 Net Loss $(30.9)M; R&D Expenses Up 41.6%
AI Summary
Neurogene Inc. reported a net loss of $(30.9) million for the first quarter of 2026, an increase from $(22.6) million in the prior year. Research and development expenses rose significantly by 41.6% to $25.15 million as the company advances its NGN-401 program for Rett syndrome into a registrational trial. Despite increased operating cash burn, the company's cash, cash equivalents, and short-term investments stood at $243.2 million as of March 31, 2026, which is expected to fund operations for at least one year. The accumulated deficit grew to $(383.6) million.
Key Highlights
- Net loss for Q1 2026 was $(30.9) million, up from $(22.6) million in Q1 2025.
- Research and development expenses increased 41.6% to $25.15 million in Q1 2026.
- Net loss per share was $(1.39) for Q1 2026, compared to $(1.08) in Q1 2025.
- Cash, cash equivalents, and short-term investments totaled $243.2 million as of March 31, 2026.
- Net cash used in operating activities was $(26.1) million for Q1 2026.
- Accumulated deficit reached $(383.6) million as of March 31, 2026.
- Contingent value rights liability decreased to $409K non-current from $1.066M total.