NurExone Biologic Inc. Announces Second Quarter 2025 Financial Results
TORONTO and HAIFA, Israel, Aug. 28, 2025 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV:NRX) (OTCQB:NRXBF) (FSE: J90) ("NurExone" or the "Company"), a preclinical-stage biotechnology company pioneering exosome-based therapies for central nervous system injuries, is pleased to announce its financial results for the second quarter ended June 30, 2025 ("Q2"), and provide a corporate update on its recent activities and upcoming milestones.
The Company's full set of unaudited condensed interim consolidated financial statements for the six months ended June 30, 2025, and accompanying management's discussion and analysis can be accessed by visiting the Company's website at www.nurexone.com and its SEDAR+ profile at www.sedarplus.ca.
Key Business Highlights
C$2.3 million raised through Private Placement: On April 10, 2025, NurExone completed a non-brokered private placement of 3,543,238 units (each, a "April 2025 Unit") at a price of C$0.65 per April 2025 Unit, raising gross proceeds of approximately C$2.3 million (the "April 2025 Offering"). Each April 2025 Unit consisted of (i) one common share in the capital of the Company (each, a "Common Share"), and (ii) one Common Share purchase warrant (each, a "April 2025 Warrant"). Each April 2025 Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.85 per Common Share for a period of 36 months. The proceeds from the April 2025 Offering will be used primarily for working capital, and also to support general corporate purposes and clinical development activities.
Research and development and regulatory pathway. On May 30, 2025, at the American Spinal Injury Association ("ASIA") Annual Meeting, the Company outlined plans to initiate a Phase 1/2a trial of ExoPTEN for acute spinal cord injury in 2026, subject to regulatory clearances.
Clinical readiness and manufacturing. On June 4, 2025, NurExone reported new manufacturing process validation data derived from its proprietary Master Cell Bank, supporting scalability and consistency of exosome production and intended tech transfer to U.S. subsidiary Exo-Top Inc. ("Exo-Top") for Good Manufacturing Practices ("GMP") manufacturing.
Strategic programs and visibility. On June 20, 2025, the Company was accepted into Advanced Regenerative Manufacturing Institute's ("ARMI") HealthTech Hub Accelerator to support U.S. growth and manufacturing strategy. During Q2, the Company also participated in investor and scientific venues, including the spinal cord injuries Investors Symposium (co-presented by the Christopher & Dana Reeve Foundation) on June 27, 2025.
Second Quarter 2025 Financial Results
Research and development expenses, net, were US$0.70 million in the second quarter of 2025, compared to US$0.51 million in the same quarter of 2024. The increase was primarily due to US$0.09 million in higher service provider costs and related stock-based compensation, US$0.06 million in materials and other costs, and US$0.04 million in salaries and employee stock-based compensation.
General and administrative expenses were US$1.13 million in the second quarter of 2025, compared to US$0.81 million in the same quarter of 2024. The increase was mainly driven by US$0.14 million in salaries and employee stock-based compensation, US$0.13 million in higher service provider costs and related stock-based compensation, and US$0.05 million in fees and other costs.
Net financial expenses were US$0.02 million in the second quarter of ...
