VANCOUVER, British Columbia, May 21, 2026 (GLOBE NEWSWIRE) -- NervGen Pharma Corp. ("NervGen" or the "Company") (NASDAQ:NGEN), a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury and other neurotraumatic and neurologic conditions, today announced the pricing of an underwritten public offering of 24,000,000 common shares and accompanying warrants to purchase up to 24,000,000 common shares. The common shares are being sold at a public offering price of US$2.50 per common share and accompanying warrant. Each accompanying warrant has an exercise price of US$3.68 per common share, and will be immediately exercisable from the date of issuance, and will expire five years from the date of issuance.

All of the securities are being offered by NervGen. The securities will be offered in all provinces and territories of Canada, other than Quebec. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, and excluding any proceeds from the exercise of the accompanying warrants, are expected to be approximately US$60.0 million. The offering is expected to close on May 26, 2026, subject to the satisfaction of customary closing conditions.

NervGen intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, to advance NVG-291 through clinical studies and for general corporate and working capital purposes.

Leerink Partners and TD Cowen are acting as joint bookrunning managers for the offering.

The offering is being made pursuant to a prospectus supplement to an amended and restated short form base shelf prospectus dated December 15, 2025 (the "Base Shelf Prospectus") filed in all of the provinces and territories of Canada and a shelf registration statement on Form F-10, as amended (File No. 333-292197) (the "Registration Statement") that was filed with the Securities and Exchange Commission (the "SEC") on December 17, 2025, and became effective on January 7, 2026. The offering is being made in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the Registration Statement. The Base Shelf Prospectus is, and the final prospectus supplement will be ...