Neurogene Inc. Files Q2 2024 10-Q
Ticker: NGNE · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 1404644
Sentiment: neutral
Topics: 10-Q, financials, pharmaceutical
TL;DR
Neurogene Inc. 10-Q filed: Q2 2024 financials out.
AI Summary
Neurogene Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Neoleukin Therapeutics, Inc., reported its financial status and business operations. Key financial details and operational highlights for the second quarter of 2024 are presented in this filing.
Why It Matters
This filing provides investors and stakeholders with an update on Neurogene Inc.'s financial health and operational progress during the second quarter of 2024.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Neurogene Inc. faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Players & Entities
- Neurogene Inc. (company) — Filer of the 10-Q
- Neoleukin Therapeutics, Inc. (company) — Former name of Neurogene Inc.
- 20240630 (date) — End of the reporting period
- 20240809 (date) — Filing date of the 10-Q
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the quarter ended June 30, 2024.
What was Neurogene Inc.'s former company name?
Neurogene Inc.'s former company name was Neoleukin Therapeutics, Inc., with a name change date of August 12, 2019.
What is Neurogene Inc.'s Standard Industrial Classification code?
Neurogene Inc.'s Standard Industrial Classification code is 2834, for Pharmaceutical Preparations.
When was this 10-Q form filed with the SEC?
This 10-Q form was filed with the SEC on August 9, 2024.
What is the business address of Neurogene Inc.?
Neurogene Inc.'s business address is 535 W 24th Street, 5th Floor, New York, NY 10011.
Filing Stats: 4,749 words · 19 min read · ~16 pages · Grade level 16.6 · Accepted 2024-08-09 16:15:03
Key Financial Figures
- $0.000001 — ich registered Common stock, par value $0.000001 per share NGNE The Nasdaq Global Mark
Filing Documents
- ngne-20240630.htm (10-Q) — 1474KB
- ngne-2024formq210xqxex311p.htm (EX-31.1) — 9KB
- ngne-2024formq210xqxex312p.htm (EX-31.2) — 9KB
- ngne-2024formq210xqxex321.htm (EX-32.1) — 7KB
- 0001404644-24-000086.txt ( ) — 6743KB
- ngne-20240630.xsd (EX-101.SCH) — 45KB
- ngne-20240630_cal.xml (EX-101.CAL) — 69KB
- ngne-20240630_def.xml (EX-101.DEF) — 190KB
- ngne-20240630_lab.xml (EX-101.LAB) — 606KB
- ngne-20240630_pre.xml (EX-101.PRE) — 427KB
- ngne-20240630_htm.xml (XML) — 785KB
Financial Statements
Financial Statements 1 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36 Part II Other Information 37 Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 77 Item 3. Defaults Upon Senior Securities 77 Item 4. Mine Safety Disclosures 77 Item 5. Other Information 77 Item 6. Exhibits 78
Signatures
Signatures 79 Table of Contents
- Financial Information
Part I - Financial Information
Condensed Financial Statements
Item 1. Condensed Financial Statements Neurogene Inc. Condensed Consolidated Balance Sheets (In Thousands, Except Share Information) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 111,032 $ 148,210 Short-term investments 42,873 48,947 Prepaid expenses and other current assets 5,244 3,191 Total current assets 159,149 200,348 Property and equipment, net 16,064 17,174 Operating lease right-of-use assets 3,381 3,681 Finance lease right-of-use assets 96 98 Restricted cash 339 508 Other non-current assets 794 764 Total assets $ 179,823 $ 222,573 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,724 $ 2,596 Accrued expenses and other current liabilities 7,144 17,495 Operating lease liabilities, current 2,765 2,559 Finance lease liabilities, current 52 42 Contingent value rights liability, current 1,388 281 Total current liabilities 13,073 22,973 Operating lease liabilities, non-current 10,915 12,302 Finance lease liabilities, non-current 53 65 Contingent value rights liability, non-current 717 1,006 Other liabilities 51 203 Total liabilities 24,809 36,549 Stockholders' equity: Preferred stock, $ 0.000001 par value; 50,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.000001 par value; 450,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 12,989,208 and 12,823,665 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Additional paid-in capital 377,581 373,178 Accumulated deficit ( 222,567 ) ( 187,154 ) Total stockholders' equity 155,014 186,024 Total liabilities and stockholders' equity $ 179,823 $ 222,573 The accompanying notes are an integral part of these condensed consolidated financial statements. -1- Table of Contents Neurogene Inc. Condensed Consolidated Statements of Operati