May. 23 at 2:14 PM
$NGEN Well...well... Saw that dilution coming, but not at this level or size. Agree with some earlier comments - given the book runners, this now places us at the bigger financing table, and they have certainly taken their 'pound of flesh' for that seat. Make no mistake, this is a big move, and will put a spotlight on this company going forward.
You have to ask yourself - why? What changed?
The gait results. They are the strongest signal coming from this trial (10/10 vs 1/10, p=0.00012), knocking it out of the park. This is currently an EXPLORATORY endpoint, and clearly, that needs to change, and it needs to change immediately.
What does this mean? It means an immediate protocol amendment to the FDA to make it a KEY SECONDARY endpoint, find gait-capable sites, specify a sub-study sample size and plan. Get this done before the first patient enrolled.
This means immediate spend and commitments in the millions.
Nervgen just got MUCH MUCH stronger this week. Patience.
