NGNE

MKT CAP:$421M

Neurogene Inc.

Market Cap

$421M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$27.74+$7.58 (+37.60%)

Apr 20, 2026

Company Details

Neurogene Inc. develops life-changing genetic medicines for patients and their families affected by neurological diseases. Its product candidate includes NGN-401, an investigational AAV9 gene therapy for the treatment of Rett syndrome; and ...

CEO

Rachel L. McMinn

IPO Date

Mar 7, 2014

Website

www.neurogene.com

Key Metrics TTM

Revenue

$0

-100.0% YoY

Net Income

-$90M

EPS (Diluted)

-$4.72

Free Cash Flow

-$78M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 8, 2026

PENDING

FY 2025

Mar 24, 2026

$0-100.0%EPS -$4.24

Q4 2025

Mar 24, 2026

$0EPS -$1.60

Q3 2025

Nov 13, 2025

$0EPS -$0.99

Q2 2025

Aug 11, 2025

$0-100.0%EPS -$1.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$0	-$592.0K	-$15M
Q4 21	$0	-$631.0K	-$15M
Q1 22	$0	-$661.0K	-$15M
Q2 22	$0	-$718.0K	-$16M
Q1 23	$0	-$818.0K	-$13M
Q2 23	$0	$0	-$13M
Q3 23	$0	$0	-$15M
Q4 23	$0	-$12M	-$15M
Q1 24	$0	-$825.0K	-$19M
Q2 24	$925.0K	$108.0K	-$20M
Q3 24	$0	$0	-$22M
Q4 24	$0	-$15M	-$22M
Q1 25	$0	$0	-$26M
Q2 25	$0	$0	-$26M
Q3 25	$0	$0	-$24M
Q4 25	$0	-$787.0K	-$28M

Valuation

Quarter	P/S	P/E
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	742.3x	—
Q3 24	768.5x	—
Q4 24	408.3x	—
Q1 25	214.6x	—
Q2 25	—	—
Q3 25	—	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$8M	-$9M
Q4 21	-$12M	-$12M
Q1 22	-$14M	-$15M
Q2 22	-$11M	-$11M
Q1 23	-$14M	-$14M
Q2 23	-$9M	-$9M
Q3 23	-$12M	-$12M
Q4 23	-$30M	-$29M
Q1 24	-$22M	-$22M
Q2 24	-$16M	-$16M
Q3 24	-$16M	-$16M
Q4 24	-$17M	-$18M
Q1 25	-$21M	-$22M
Q2 25	-$19M	-$20M
Q3 25	-$20M	-$20M
Q4 25	-$17M	-$17M

Capital Expenditures

Quarter	CapEx
Q3 21	$538.8K
Q4 21	$391.0K
Q1 22	$452.0K
Q2 22	$229.2K
Q1 23	$29.0K
Q2 23	$82.0K
Q3 23	$82.0K
Q4 23	$235.2K
Q1 24	$65.0K
Q2 24	$460.0K
Q3 24	$167.0K
Q4 24	$116.0K
Q1 25	$780.0K
Q2 25	$148.0K
Q3 25	$126.1K
Q4 25	$114.3K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	—	+53.4%
Q4 21	—	+20.1%
Q1 22	—	+2.8%
Q2 22	—	+4.9%
Q1 23	—	-15.6%
Q2 23	—	-17.0%
Q3 23	—	-1.0%
Q4 23	—	-7.2%
Q1 24	—	+44.1%
Q2 24	—	+67.2%
Q3 24	—	+45.7%
Q4 24	—	+46.0%
Q1 25	—	+38.0%
Q2 25	-100.0%	+23.8%
Q3 25	—	+7.3%
Q4 25	—	+28.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	—
Q4 21	$0	—
Q1 22	$0	—
Q2 22	$0	—
Q1 23	$293.0K	—
Q2 23	$384.0K	—
Q3 23	$386.0K	—
Q4 23	$355.0K	—
Q1 24	$1M	—
Q2 24	$2M	250.2%
Q3 24	$2M	—
Q4 24	$2M	—
Q1 25	$4M	—
Q2 25	$3M	—
Q3 25	$0	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 21	$10M	—	—	$5M
Q4 21	$10M	—	—	$5M
Q1 22	$11M	$2M	$2M	—
Q2 22	$11M	—	—	$4M
Q1 23	$10M	—	—	$2M
Q2 23	$10M	$2M	—	—
Q3 23	$12M	$4M	—	—
Q4 23	$12M	$3M	—	—
Q1 24	$14M	$5M	—	—
Q2 24	$16M	$5M	—	—
Q3 24	$16M	$6M	—	—
Q4 24	$15M	$6M	—	—
Q1 25	$18M	$8M	—	—
Q2 25	$19M	$7M	—	—
Q3 25	$17M	$7M	—	—
Q4 25	$21M	—	—	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$128M	$0	$128M
Q2 22	$78M	$39M	$116M
Q3 22	$40M	$67M	$107M
Q4 22	$82M	$0	$82M
Q1 23	$35M	$48M	$83M
Q2 23	$59M	$0	$59M
Q3 23	$25M	$53M	$79M
Q4 23	$148M	$49M	$197M
Q1 24	$150M	$19M	$170M
Q2 24	$111M	$43M	$154M
Q3 24	$67M	$72M	$139M
Q4 24	$137M	$176M	$312M
Q1 25	$71M	$222M	$293M
Q2 25	$59M	$216M	$275M
Q3 25	$71M	$194M	$265M
Q4 25	$104M	$165M	$269M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	55M	+0.1%	+1.8%
Q4 21	42M	-22.9%	+0.6%
Q1 22	55M	+29.9%	+0.4%
Q2 22	55M	+0.1%	+0.3%
Q1 23	55M	+0.4%	+0.6%
Q2 23	56M	+1.3%	+32.3%
Q3 23	11M	-80.2%	-79.9%
Q4 23	13M	+15.5%	-76.8%
Q1 24	17M	+31.8%	-69.5%
Q2 24	17M	+0.2%	-69.8%
Q3 24	17M	+0.1%	+52.7%
Q4 24	15M	-12.4%	+15.8%
Q1 25	21M	+41.3%	+24.2%
Q2 25	21M	+0.3%	+24.3%
Q3 25	21M	+0.5%	+24.9%
Q4 25	15M	-26.8%	+4.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	$0	91
Q1 24	$0	91
Q2 24	$10.2K	91
Q3 24	$0	91
Q4 24	$0	107
Q1 25	$0	107
Q2 25	$0	107
Q3 25	$0	107
Q4 25	$0	131

Revenue / Employee