Jun. 11 at 6:25 PM
$NGEN NervGen rises as TD Cowen issues new Buy on lead asset
Shares of NervGen Pharma (NGEN) traded higher on Thursday after TD Cowen initiated the Canadian biotech with a Buy recommendation, assuming
$1.1B peak sales for the company’s lead asset NVG-291.
The injectable expected to undergo a registrational study in mid-2026 for chronic tetraplegia, a paralysis caused by spinal cord injury, has shown encouraging efficacy results in a Phase 1/2 trial, said analyst Joseph Thome.
“The treatment was safe with high adherence, demonstrating promising activity across biomarker and functional measures,” Thome argued, adding that key opinion leaders are optimistic about the RESTORE registrational study, which is scheduled to complete enrollments in mid-2027.
“Given the high unmet need, our KOL believes that such a pharmacologic treatment, if approved, would see rapid uptake and enthusiastic support given the paucity of currently available options,” he wrote.
12 dollar target implied
