Mr. Bill Adams reports

NERVGEN PROVIDES QUARTERLY "AT-THE-MARKET" EQUITY PROGRAM UPDATE

Nervgen Pharma Corp. has provided a quarterly update with respect to the company's previously announced at-the-market (ATM) equity program launched on Dec. 19, 2024. The ATM program allows the company to issue and sell common shares in the capital of the company to the public from time to time through Stifel Nicolaus Canada Inc., at the company's discretion and subject to regulatory requirements.

During the quarterly period ended March 31, 2025, the company issued and sold 564,500 common shares under the ATM program at a weighted average price of $2.91 per common share, for aggregate gross proceeds of $1,639,761. The company paid cash placement fees of $32,796 to the agent, resulting in aggregate net proceeds of $1,606,965.

About Nervgen Pharma Corp.

Nervgen is a clinical-stage biotech company dedicated to developing innovative treatments to promote nervous system repair in settings of neurotrauma and neurologic disease. The company is testing the clinical efficacy of its lead molecule, NVG-291, in a phase 1b/2a clinical trial in spinal cord injury, and has initiated preclinical evaluation of a new development candidate, NVG-300, in models of ischemic stroke and spinal cord injury.

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