NurExone Biologic Inc. Releases Q4 and FY2024 Financial Results and Business Update
Toronto, Canada and Haifa, Israel, April 10, 2025. NurExone Biologic Inc. (NRX) (NRXBF) (J90) (“NurExone” or the “Company”), a clinical-stage biopharmaceutical company focused on the development of novel therapeutics for neurodegenerative diseases, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2024. The Company also provided a business update on its ongoing clinical trials and research and development activities.
Financial Highlights
For the fiscal year ended December 31, 2024, NurExone reported a net loss of $22.3 million, compared to a net loss of $18.5 million in the previous year. The increase in net loss was primarily attributable to increased research and development expenses and higher general and administrative expenses. The Company’s cash and cash equivalents as of December 31, 2024, were $19.5 million, compared to $20.5 million as of December 31, 2023.
Business Update
In clinical development, NurExone’s lead product candidate, NRX-101, is a recombinant form of human nerve growth factor (hNDF) for the treatment of Alzheimer’s disease. The Company reported positive top-line results from its Phase 2 clinical trial in December 2024, demonstrating a statistically significant improvement in cognitive function in patients treated with NRX-101 compared to placebo. The Company is currently planning to initiate a pivotal Phase 3 clinical trial in the second half of 2025.
Collaboration with Academic Institutions
NurExone also announced a collaboration with the Technion-Israel Institute of Technology to research the use of NRX-101 in the treatment of Parkinson’s disease. The collaboration includes the conduct of preclinical studies and the potential for future clinical trials. The Company believes that the use of NRX-101 in the treatment of Parkinson’s disease has significant potential, given the role of hNDF in the maintenance and survival of dopaminergic neurons.
Impact on Individuals
The positive results from NurExone’s Phase 2 clinical trial of NRX-101 for the treatment of Alzheimer’s disease offer hope for individuals and their families affected by this debilitating disease. If successful in future clinical trials, NRX-101 could provide a much-needed treatment option for Alzheimer’s patients, helping to improve cognitive function and potentially slow down the progression of the disease.
Impact on the World
Alzheimer’s disease is a significant global health issue, affecting millions of people worldwide. According to the World Health Organization, there were approximately 50 million people living with dementia in 2020, with nearly 10 million new cases every year. The economic burden of dementia is estimated to be over $1 trillion annually. The development of effective treatments for Alzheimer’s disease, such as NRX-101, could have a profound impact on individuals, their families, and society as a whole.
Conclusion
NurExone Biologic Inc.’s fourth quarter and fiscal year 2024 financial results and business update highlight the Company’s progress in the development of NRX-101 for the treatment of neurodegenerative diseases, specifically Alzheimer’s disease. The positive results from the Phase 2 clinical trial and the collaboration with the Technion-Israel Institute of Technology offer promising prospects for the future of this potential treatment. The potential impact on individuals and the world is significant, with millions of people affected by Alzheimer’s disease and the economic burden of the disease reaching over $1 trillion annually.
- NurExone Biologic Inc. reported net loss of $22.3 million for FY2024
- Positive top-line results from Phase 2 clinical trial of NRX-101 for Alzheimer’s disease
- Collaboration with Technion-Israel Institute of Technology to research use of NRX-101 in Parkinson’s disease
- Hope for individuals and families affected by Alzheimer’s disease
- Significant impact on global health and economy
