NervGen Pharma Corp. (NGEN) Balance Sheet

NASDAQ: NGENAssets, liabilities, debt and equity over 8 years.

NGEN balance sheet, 2025

December 31, 2025 · Canadian dollars

C$23.2M assets = C$19.7M liabilities + C$3.5M equity

What it ownsC$23.2MCash & ST investments: C$22.1M (95.1%)Cash & ST investmentsC$22.1M · 95%Receivables: C$80,825 (0.3%)Other current: C$650,018 (2.8%)Goodwill & intangibles: C$409,163 (1.8%)=How it is financedC$23.2MCurrent liabilities: C$19.7M (85.0%)Current liabilitiesC$19.7M · 85%Shareholders’ equity: C$3.5M (15.0%)Shareholders’ equityC$3.5M · 15%

Both columns are drawn to the same scale: what NGEN owns equals what it owes plus shareholders’ equity. Hover a block for its value.

NGEN financial health

Current ratio1.16
Adequate · current assets cover current liabilities 1.16×
Debt / equity0.00
Low leverage · C$0.00 of debt for each $1 of equity
Equity / assets15.0%
Thin equity · of assets funded by shareholders
Cash / debt263,707.0%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles1.8%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

NGEN balance sheet trends, 2018–2025

MetricTrendThenLatestChange
Total assetsC$3.1M2018C$23.2M2025+33.4%/yr
Total liabilitiesC$581,2572018C$19.7M2025+65.5%/yr
Shareholders’ equityC$2.5M2018C$3.5M2025+4.8%/yr
Cash & short-term investmentsC$2.5M2018C$22.1M2025+36.8%/yr
Total debtC$280,9612022C$8,3692025−69.0%/yr
Net cash (debt)C$22.0M2022C$22.1M2025+C$88,084
Working capitalC$2.1M2018C$3.1M2025+C$973,738
Current ratio5.6820181.162025−4.52
Debt / equity0.0220220.002025−0.02
Shares outstanding27.2M201872.3M2025+15.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

NGEN assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

NGEN liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

NGEN debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

NGEN balance sheet in Canadian dollars

20252024202320222021202020192018
Assets
Cash & short-term investmentsC$22.1MC$17.4MC$11.7MC$22.3MC$17.1MC$5.6MC$4.2MC$2.5M
Cash & equivalentsC$22.1MC$17.3MC$11.7MC$22.3MC$17.1MC$5.6MC$4.2MC$2.5M
Short-term investmentsC$8,369C$97,167C$0—————
ReceivablesC$80,825C$415,021C$250,229C$26,788C$64,487C$62,734C$125,841C$25,760
InventoryC$0C$0C$0C$0C$0C$0C$0C$0
Other current assetsC$650,018C$1.2MC$605,786C$664,018C$430,831C$541,974C$2.1MC$49,221
Total current assetsC$22.8MC$19.0MC$12.5MC$22.9MC$17.6MC$6.2MC$6.4MC$2.5M
Property, plant & equipment (net)C$0C$0C$199,798C$292,683C$2,710C$1,999C$0C$0
Goodwill & intangible assetsC$409,163C$464,645C$520,796C$427,607C$476,750C$472,453C$523,501C$546,091
Long-term investmentsC$0C$8,369C$0C$0C$0C$0C$0C$0
Other non-current assetsC$0C$0C$1C$2C$3C$2C$2C$0
Total assetsC$23.2MC$19.5MC$13.2MC$23.7MC$18.0MC$6.7MC$6.9MC$3.1M
Liabilities
Accounts payableC$4.7M—C$3.3MC$2.0M————
Short-term debtC$8,369C$97,167C$91,592C$85,505————
Total current liabilitiesC$19.7MC$16.9MC$15.1MC$10.1MC$1.1MC$756,778C$949,139C$447,453
Long-term debtC$0C$0C$0C$0C$0C$0C$0C$0
Lease obligationsC$8,369C$105,603C$197,190C$283,455————
Other long-term liabilitiesC$0C$8,362C$105,612C$195,455C$0C$0C$0C$133,804
Total liabilitiesC$19.7MC$16.9MC$15.2MC$10.3MC$1.1MC$756,778C$949,139C$581,257
Shareholders' equity
Common stock & paid-in capitalC$103.0MC$81.0MC$58.9MC$56.9MC$42.7MC$23.0MC$15.7MC$3.8M
Retained earnings (deficit)−C$146.8M−C$102.1M−C$78.2M−C$55.3M−C$35.3M−C$22.4M−C$11.4M−C$1.4M
Accumulated other comprehensive income—C$23.6MC$17.2MC$11.7MC$9.5MC$5.3MC$1.7MC$37,825
Total shareholders' equityC$3.5MC$2.6M−C$2.0MC$13.3MC$16.9MC$5.9MC$6.0MC$2.5M
Key figures
Total debtC$8,369C$105,531C$197,205C$280,961————
Net cash (debt)C$22.1MC$17.2MC$11.5MC$22.0M————
Working capitalC$3.1MC$2.1M−C$2.6MC$12.8MC$16.5MC$5.5MC$5.5MC$2.1M
Tangible book valueC$3.1MC$2.1M−C$2.5MC$12.9MC$16.5MC$5.5MC$5.5MC$2.0M
Shares outstanding72.3M67.3M59.3M52.6M39.3M32.1M25.9M27.2M
Current ratio1.161.120.832.2716.168.216.775.68
Quick ratio1.121.050.792.2015.767.504.585.57
Debt / equity0.000.04—0.02————
Equity / assets15.0%13.2%−15.2%56.4%94.0%88.7%86.3%81.2%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 31, 2026); data from EODHD.

NGEN financial position

At the end of fiscal 2025 (December 31, 2025), NervGen Pharma had total assets of C$23.2 million (up 19.2% from a year earlier), total liabilities of C$19.7 million and shareholders' equity of C$3.5 million. It held C$22.1 million in cash and short-term investments against C$0.0 million of debt, a net cash position of C$22.1 million. Its current ratio was 1.16. In the latest quarter (ended June 30, 2026) total assets were C$90.3 million and equity C$17.3 million.

Related: NGEN income statement, NGEN cash flow statement, NGEN key metrics. See the NGEN stock overview for the latest quote and news.

NGEN balance sheet FAQ

What are NervGen Pharma's total assets?

NervGen Pharma reported total assets of C$23.2 million at the end of fiscal 2025 (December 31, 2025), compared with C$19.5 million a year earlier.

How much debt does NervGen Pharma have?

NervGen Pharma had C$0.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.

How much cash does NervGen Pharma have?

NervGen Pharma held C$22.1 million in cash and short-term investments at the end of fiscal 2025; with C$0.0 million of debt that is net cash of C$22.1 million.

What is NervGen Pharma's book value?

NervGen Pharma's shareholders' equity (book value) was C$3.5 million at the end of fiscal 2025.

What is NervGen Pharma's current ratio?

NervGen Pharma had current assets of C$22.8 million and current liabilities of C$19.7 million, a current ratio of 1.16 (it can cover its short-term obligations).

How much goodwill does NervGen Pharma have?

NervGen Pharma carried C$0.4 million of goodwill and intangible assets, 1.8% of total assets, at the end of fiscal 2025.

Biotechnology: balance sheet