Neurogene Q2 adjusted loss per share misses estimates on employee costs
NGNE•Analyst coverage
The current average analyst rating on the shares is buy, with 9 strong buy or buy recommendations, no hold ratings, and no sell or strong sell ratings.
The average consensus recommendation for the biotechnology and medical research peer group is buy.
Wall Street's median 12-month price target for Neurogene Inc is $69.00, about 88.8% above its August 10 closing price of $36.55.
Cost drivers and outlook
Net loss and operating expenses increased year over year due to higher NGN-401 development costs.
- Higher R&D expenses were driven by NGN-401 clinical trial and manufacturing activities.
- Increased non-cash stock-based compensation and employee costs contributed to higher R&D and G&A expenses.
- G&A expenses rose due to corporate and pre-commercial activities and higher professional fees.
The company said it expects to complete BLA-enabling PPQ runs by year-end 2026 and anticipates topline data from the Embolden registrational trial in 2H 2027. It expects current cash resources to fund operations into 1Q 2029, after extending its cash runway with $144 mln in oversubscribed financing.
