Start here if you're new
what it is
Neurogene builds gene therapies for rare neurological diseases, led by NGN-401 for Rett syndrome and NGN-101 for CLN5 Batten disease.
how it gets paid
Last year Neurogene made $925K in revenue. license and collaboration revenue was the main engine at $925K, or 100% of sales.
what just happened
Revenue landed at $0 in the latest quarter, while EPS was still deeply red at -$3.11.
At a glance
B balance sheet — gets the job done, barely
35/100 earnings predictability — expect surprises
-$4.28 fy2024 eps est
$1M fy2024 rev est
n/a operating margin
xvary composite: 47/100 — below average
What they do
Neurogene builds gene therapies for rare neurological diseases, led by NGN-401 for Rett syndrome and NGN-101 for CLN5 Batten disease.
Neurogene's EXACTTM platform is a dose-control system for genes. That matters because 2 programs depend on getting the biological volume knob right. You are not buying sales yet. You are buying 107 employees, 2 clinical shots, and a platform that aims to tune therapy instead of spraying it.
How they make money
$925K
annual revenue
license and collaboration revenue
$925K
grant revenue
$0
interest income
$0
other revenue
$0
The products that matter
research and collaboration funding
Collaboration revenue
$925K
this is almost the entire revenue line. it tells you neurogene is still getting paid to develop science, not to sell an approved therapy.
current revenue
lead clinical program
NGN-401
lead asset
the company only generated about $1M of revenue, so NGN-401 carries most of the argument for a $333M valuation. if the data improve, the story changes fast. if the timeline slips, it changes faster.
core thesis
funding capacity
Balance sheet
$7M long-term debt
just $7M of long-term debt is manageable. but low debt is not the same thing as self-funding when earnings are running at a -$4.28 per-share estimate.
runway matters
Key numbers
-$4.28
fy2024 eps est
$1M
fy2024 rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $7M (2% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NGNE right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue landed at $0 in the latest quarter, while EPS was still deeply red at -$3.11.
EDGAR shows no quarterly revenue and a -$3.11 EPS loss. also shows a heavy loss profile, with FY2024 EPS estimated at -$4.28.
$0
revenue
-$3.11
eps
n/a
operating margin
the number that mattered
$0 of quarterly revenue matters most because it says the business is still a science project, not a sales engine.
source: company earnings report, 2026
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What could go wrong
the #1 risk is simple: NGN-401 fails to earn the next round of investor trust. with about $1M of revenue, there is no mature business underneath the trial story to cushion the blow.
med
NGN-401 disappoints
This is the core asset in the equity story. If the next clinical update lands below investor expectations, the market stops paying for future promise and starts pricing what exists today.
about $925K of collaboration revenue does not give the stock much downside protection.
med
funding arrives before proof does
A -$4.28 EPS estimate tells you the business is consuming capital. If the timeline stretches before the science de-risks, shareholders face financing pressure from a weaker negotiating position.
the debt load is only $7M. that helps. it does not replace external capital when revenue is about $1M.
med
the stock keeps trading like a binary event
A 1.5 beta and 5 / 100 price stability tell you the market treats this like a catalyst vehicle. Even neutral updates can produce sharp moves when expectations get crowded.
if you own it, you are owning science risk and sentiment risk at the same time.
The combined risk picture is blunt: about $1M of revenue and one lead program leave little margin for error. If trial confidence weakens while financing questions rise, both the valuation and the ownership base can reset fast.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next company update
The next formal update matters because this stock lives on milestones. Watch for any tighter language around NGN-401 timing and funding needs.
trend
NGN-401 progress markers
This is still the center of gravity. If the company starts giving cleaner progress signals, the market will care before the revenue line does.
risk
financing pressure
With about $1M of revenue and negative earnings, funding risk never leaves the page. A delayed timeline makes this the first place to look.
metric
volatility versus conviction
Track the 1.5 beta, the 5 / 100 price stability score, and the $7–$37 range together. The chart tells you how much patience this market has left.
Analyst rankings
short-term outlook
mixed
analyst target data is thin here. in human-speak: nobody has a clean consensus to hide behind.
risk profile
volatile
1.5 beta and 5 / 100 price stability put the stock in headline-driven territory. this is a catalyst name, not a slow grinder.
chart momentum
stock-specific
the stock trades off company milestones more than broad sector rhythm. one update can redraw the chart.
earnings predictability
35/100
that score means the business still changes shape from report to report. the accounting follows the development cycle.
source: institutional data
Institutional activity
institutional ownership data for NGNE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$20
current price
n/a
target midpoint · n/a from current
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