Neurogene Inc (NGNE) News & EventsNGNENews & EventsNeurogene Inc

Neurogene's NGN-401 Program Achieves Significant Progress

"The second quarter and recent months marked important progress across our NGN-401 program, highlighted by positive long-term Phase 1/2 data showing durable, multidomain developmental gains that have not been observed in the natural history of Rett syndrome," stated Rachel McMinn, Ph.D., Founder and Chief Executive Officer of Neurogene. "The clinically meaningful benefit observed across all participants, including 100% of treated participants improving on CGI-I and gaining an average of 4.7 developmental milestones, strengthens our confidence in the program as we advance toward topline Embolden(TM) registrational data, which are expected in the second half of 2027. With initiation of our PPQ campaign, ongoing preparations for a potential BLA submission and a strengthened balance sheet supporting commercial-readiness activities, we believe we are well positioned to bring NGN-401 to patients and families as quickly as possible, if approved."

Ondas Holdings Short Interest Rises to 40%

Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.8%, the Nasdaq Composite was up 1.5%, the Russell 2000 index was down 0.1%, the Russell 2000 Growth ETFwas up 0.5% and the Russell 2000 Value ETFwas down 0.8% in the four-day trading session range through July 9.SHORT INTEREST GAINERSOrtex-reported short interest in Ondas Holdingshad troughed at a four-month low around 28% in mid-June but has since gained more briskly, topping a record high of 40% this week just as the stock has faltered. Days to cover on the name also increased, going up from 2.7 to 3.1 despite the notable pickup in trading volume in the second half of June and thus far into July. The stock was up 3.2% in the four-day period through Thursday before Friday's 5% decline, and shares have also now fallen 46% since the multi-month highs on June 2, as the company's announcement of its Cyberhawk acquisition and the update of a new autonomous defense systems launch has been met with more pronounced selling.Ortex-reported short interest in Quantum Computinghas climbed back above 32% of free float, recovering from the mid-20% range over the past several weeks and reaching the cusp of the highest levels seen this year during the final week of June at 33%. Similarly, days-to-cover increased modestly from roughly 3.0 to 3.2, suggesting short interest has grown while trading volumes have remained relatively stable after the surge in activity earlier this spring. Short sellers have continued to add exposure even as shares have consolidated following their retreat from May highs. This week, shares of Quantum were up about 1% through Thursday. The stock has declined roughly 35% from its May peak, yet bearish positioning has continued to build rather than unwind. The combination of renewed short selling, a short interest ratio above 30% of free float, and relatively modest days-to-cover suggests investor skepticism remains elevated, leaving the door open for a squeeze should the company deliver a meaningful positive catalyst.Ortex-reported short interest in NetSTREIThad troughed at a four-month low around 29% late last week but bounced for four consecutive sessions this week, rising from 29.2% to a two-week high of 34.3%. Similarly, days-to-cover had come in for multi-month highs around 27% in the final week of June to below 16% as trading volumes were accentuated by the bullish price action following the stock's admission into the S&P SmallCap 600 index on June 24. The outsized rally in shares is now mean-reverting, with the stock ending the four-day period through Thursday flat, though NetSTREIT shares are still up 21% year-to-date.Ortex-reported short interest in Tango Therapeuticshas rebounded to approximately 51% of free float from last week's 46%, reversing about four months of steady declines from peak short positioning above 80% of free float in early March. Days-to-cover on the name slid however from 8.0 to 7.5, reflecting June's elevated activity. As the stock rallied on positive clinical developments - most notably, the vopimetsotat plus daraxonrasib combination data released in early June - short sellers have started rebuilding positions despite shares continuing to trade near recent highs. The stock was up approximately 3.5% over the four-day period through Thursday and remained well above its pre-June breakout levels after more than doubling from its spring lows.SHORT INTEREST DECLINERSOrtex-reported short interest in Neurogenehas declined from nearly 60% to about 32% of free float, marking the first meaningful reduction in bearish positioning after remaining near record highs just under 80% for much of the year. Similarly, days-to-cover has contracted sharply from 20.1 to 17.9, reflecting both short covering and much greater trading activity volume over the recent two weeks. The stock is down 7% on Friday but rallied roughly 21% over the four-day period through Thursday and has now gained 94% year-to-date, with strong upswing on heavier volume explaining the more extreme short-covering.

Neurogene Prices Public Offering at $30 per Share

Neurogene announced the pricing of its previously announced public offering of 3,500,000 shares of its common stock at a public offering price per share of $30.00 and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to 666,666 shares of its common stock at a public offering price of $29.999999 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.000001 per share and are exercisable immediately. The aggregate gross proceeds to Neurogene from the offering are expected to be approximately $125M before deducting underwriting discounts and commissions and other offering expenses payable by Neurogene, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on July 2, subject to the satisfaction of customary closing conditions. In addition, Neurogene has granted the underwriters an option for a period of 30 days to purchase up to an additional 624,999 shares at the public offering price, less underwriting discounts and commissions. Leerink Partners, Stifel, Guggenheim Securities, LifeSci Capital and William Blair are acting as joint bookrunning managers for the offering.