Neurogene reports FY2025 net loss $90.4M, cash $269M; NGN-401 dosing on track

Neurogene Inc.

Net loss $90.4M in FY2025 vs $75.1M in FY2024; cash $269M funds through Q1 2028.
100% enrolled in Embolden registrational trial for Rett syndrome; >50% dosed; on track to complete dosing Q2 2026.
NGN-401 generally well-tolerated at 1E15 vg dose, no HLH cases; FDA Breakthrough Therapy designation granted.
R&D expenses $75.0M up from $60.9M; G&A $28.3M up from $22.6M.
Key milestones: interim Phase 1/2 data mid-2026, PPQ campaign mid-2026, BLA submission.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Neurogene Inc. reported twelve months ended December 31, 2025 results: net income -90.4 million.

Period: twelve months ended December 31, 2025
Net income: -90.4 million
Result: reported results

Exact text from the filing

Full Year 2025 Financial Results • Cash, Cash Equivalents and Short-Term Investments : Cash, cash equivalents and short-term investments as of December 31, 2025 were $269.0 million and are expected to fund planned operations through the first quarter of 2028. • Research & Development (R&D) Expenses : R&D expenses were $75.0 million for the twelve months ended December 31, 2025, compared to $60.9 million for the twelve months ended December 31, 2024. The increase in R&D expenses for the twelve months ended December 31, 2025 was primarily driven by an increase in Rett syndrome clinical trial costs and employee-related expenses due to an increase in R&D headcount, and it was partially offset by decreases in spending on the CLN5 Batten disease program and early discovery. • General & Administrative (G&A) Expenses : G&A expenses were $28.3 million for the twelve months ended December 31, 2025, compared to $22.6 million for the twelve months ended December 31, 2024. The increase in G&A expen

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Source: SEC EDGAR

accession 0001404644-26-000012

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