$NGNE
Neurogene Inc.

2024 Q3 Form 10-Q Financial Statement

#000140464424000086 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $0.00 $925.0K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.895M $5.315M $3.492M
YoY Change 19.09% 52.21% -28.95%
% of Gross Profit
Research & Development $16.29M $15.74M -$426.0K
YoY Change 2539.38% -3795.77% -103.89%
% of Gross Profit
Depreciation & Amortization $800.0K $800.0K $77.00K
YoY Change 1042.86% 938.96% -83.22%
% of Gross Profit
Operating Expenses $22.18M $21.06M $3.066M
YoY Change 298.28% 586.86% -80.68%
Operating Profit -$22.18M -$20.13M -$3.066M
YoY Change 298.28% 556.69% -80.68%
Interest Expense $1.839M $2.031M $981.0K
YoY Change 76.83% 107.03% 392.96%
% of Operating Profit
Other Income/Expense, Net $124.0K -$389.0K $0.00
YoY Change -100.0%
Pretax Income -$20.22M -$18.49M -$2.085M
YoY Change 346.29% 786.91% -86.71%
Income Tax
% Of Pretax Income
Net Earnings -$20.22M -$18.49M -$2.085M
YoY Change 346.69% 786.91% -86.71%
Net Earnings / Revenue -1999.14%
Basic Earnings Per Share -$1.19 -$1.09 -$0.04
Diluted Earnings Per Share -$1.19 -$1.09 -$0.04
COMMON SHARES
Basic Shares Outstanding 12.99M shares 12.98M shares 42.83M shares
Diluted Shares Outstanding 16.95M shares 16.94M shares 56.16M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $139.0M $153.9M $82.06M
YoY Change 77.05% 87.55% -29.53%
Cash & Equivalents $66.63M $111.0M $31.11M
Short-Term Investments $72.36M $42.87M $50.95M
Other Short-Term Assets $1.600M $1.531M $1.718M
YoY Change 15.44% -10.88% -15.29%
Inventory
Prepaid Expenses $2.382M $3.066M
Receivables
Other Receivables
Total Short-Term Assets $143.6M $159.1M $83.78M
YoY Change 79.8% 89.96% -29.29%
LONG-TERM ASSETS
Property, Plant & Equipment $16.07M $16.06M $561.0K
YoY Change 3219.83% 2763.46% -96.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $789.0K $794.0K $529.0K
YoY Change 50.57% 50.09% -73.81%
Total Long-Term Assets $20.47M $20.67M $10.23M
YoY Change 111.21% 102.19% -44.84%
TOTAL ASSETS
Total Short-Term Assets $143.6M $159.1M $83.78M
Total Long-Term Assets $20.47M $20.67M $10.23M
Total Assets $164.1M $179.8M $94.01M
YoY Change 83.2% 91.29% -31.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.684M $1.724M $3.387M
YoY Change -54.49% -49.1% -57.05%
Accrued Expenses $10.44M $7.144M $1.490M
YoY Change 552.38% 379.46% 17.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $54.00K $52.00K $3.000K
YoY Change 1633.33% -97.46%
Total Short-Term Liabilities $15.80M $13.07M $4.880M
YoY Change 203.15% 167.89% -47.36%
LONG-TERM LIABILITIES
Long-Term Debt $39.00K $53.00K $6.000K
YoY Change 783.33% -40.0%
Other Long-Term Liabilities $51.00K $51.00K $9.543M
YoY Change -99.44% -99.47% -13.5%
Total Long-Term Liabilities $51.00K $51.00K $9.549M
YoY Change -99.44% -99.47% -13.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.80M $13.07M $4.880M
Total Long-Term Liabilities $51.00K $51.00K $9.549M
Total Liabilities $26.71M $24.81M $14.43M
YoY Change 86.09% 71.94% -28.97%
SHAREHOLDERS EQUITY
Retained Earnings -$242.8M -$222.6M -$467.3M
YoY Change -48.55% -52.37%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $137.4M $155.0M $79.58M
YoY Change
Total Liabilities & Shareholders Equity $164.1M $179.8M $94.01M
YoY Change 83.2% 91.29% -31.39%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$20.22M -$18.49M -$2.085M
YoY Change 346.69% 786.91% -86.71%
Depreciation, Depletion And Amortization $800.0K $800.0K $77.00K
YoY Change 1042.86% 938.96% -83.22%
Cash From Operating Activities -$15.56M -$15.89M -$4.049M
YoY Change 264.5% 292.52% -64.15%
INVESTING ACTIVITIES
Capital Expenditures $167.0K $460.0K $132.0K
YoY Change 248.48% -156.9%
Acquisitions
YoY Change
Other Investing Activities -$28.80M -$23.15M -$279.0K
YoY Change 1677.72% 8198.92% -99.29%
Cash From Investing Activities -$28.97M -$23.61M -$411.0K
YoY Change 1688.02% 5645.5% -98.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 131.0K 399.0K -294.0K
YoY Change -235.71% -574.19%
NET CHANGE
Cash From Operating Activities -15.56M -15.89M -4.049M
Cash From Investing Activities -28.97M -23.61M -411.0K
Cash From Financing Activities 131.0K 399.0K -294.0K
Net Change In Cash -44.40M -39.11M -4.754M
YoY Change 653.8% 722.63% -90.59%
FREE CASH FLOW
Cash From Operating Activities -$15.56M -$15.89M -$4.049M
Capital Expenditures $167.0K $460.0K $132.0K
Free Cash Flow -$15.73M -$16.35M -$4.181M
YoY Change 268.41% 291.13% -62.2%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.5pt">Risks and Uncertainties</span><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, successful development of technology, obtaining additional funding, protection of proprietary technology, compliance with government regulations, risks of failure of pre-clinical studies, clinical studies and clinical trials, the need to obtain marketing approval for its drug candidates and its consumer products, fluctuations in operating results, economic pressure impacting therapeutic pricing, dependence on key personnel, risks associated with changes in technologies, development by competitors of technological innovations and the ability to transition from pilot scale manufacturing to large scale production.</span></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity and Financial Condition</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Since its inception, the Company has funded its operations primarily with proceeds from the sales of equity securities and has incurred significant recurring losses, including net losses of $35.4 million and $24.1 million for the six months ended June 30, 2024 and 2023, respectively. In addition, the Company used cash in operations of $37.5 million and $22.9 million for the six months ended June 30, 2024 and 2023, respectively, and had an accumulated deficit of $222.6 million as of June 30, 2024. Management expects to incur substantial and increasing losses in future periods as the Company advances its products through its clinical and regulatory process and will rely on outside capital to fund its operations for the foreseeable future. The Company has not generated positive cash flows from operations, and there are no assurances that the Company will be successful in obtaining an adequate level of financing for the development and commercialization of its product candidates.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2024, the Company had cash, cash equivalents and investments of approximately $153.9 million. On December 18, 2023, the Company closed the reverse merger and the Pre-Closing Financing. The Company expects its available cash and cash equivalents on hand as of the issuance date </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of these financial statements </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">will be sufficient to fund its obligations as they become due for at least one year beyond the issuance date of these financial statements. As a result of the reverse merger with Neoleukin Therapeutics, the Company assumed an ATM or “at-the-market” Equity Offering Sales Agreement with BofA Securities, Inc., as agent (“BofA”), pursuant to which the Company was able to offer and sell, from time to time through BofA, shares of the Company’s common stock, having an aggregate offering price of up to $40.0 million. The Registration Statement on Form S-3 that was prepared for the ATM expired on December 21, 2023, and in March 2024, the Company formally terminated the ATM.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the event the Company is unable to secure additional outside capital, management will be required to seek other alternatives which may include, among others, a delay or termination of clinical trials or the development of its product candidates, temporary or permanent curtailment of the Company’s operations, a sale of assets, or other alternatives with strategic or financial partners. </span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. Accordingly, the condensed consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.</span></div>
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us-gaap Use Of Estimates
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<div style="margin-top:10pt;padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. In preparing these financial statements, management used significant estimates in the following areas, among others: recoverability of the Company’s net deferred tax assets and related valuation allowance, useful lives and recoverability of property and equipment, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">determining the incremental borrowing rate for calculating lease liabilities and related right-of-use assets and finance lease assets, revenue recognition, clinical trial accruals, accrual estimates for all contingent value rights (“CVRs”), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the value attributed to employee stock options and other stock-based awards, and valuation of common stock. On an ongoing basis, the Company reviews its estimates to ensure that they appropriately reflect changes in the business or as new information becomes available. Actual results may differ from these estimates.</span></div>
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us-gaap Concentration Risk Credit Risk
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<div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div>Financial instruments that subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company’s cash and cash equivalent accounts, at times, may exceed federally insured limits. As of June 30, 2024, the Company had $110.9 million in excess of the federally insured limits. The Company places its cash in financial institutions that management believes to be of high credit quality.
CY2024Q2 ngne Cash And Cash Equivalents At Or Above Fdic Insurance Limits
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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CY2023Q2 ngne Reverse Merger Conversion Ratio
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CY2024Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
1000 usd
CY2024Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
4000 usd
CY2024Q2 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
150643000 usd
CY2023Q4 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
193305000 usd
CY2023Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
16000 usd
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HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
0 usd
CY2023Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
193321000 usd
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RefundsAndOtherReceivablesCurrent
647000 usd
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RefundsAndOtherReceivablesCurrent
600000 usd
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PrepaidExpenseCurrent
3066000 usd
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PrepaidExpenseCurrent
1496000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1531000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1095000 usd
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PrepaidExpenseAndOtherAssetsCurrent
5244000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3191000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25657000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25183000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9593000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8009000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16064000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17174000 usd
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1600000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1600000 usd
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
100000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2142000 usd
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EmployeeRelatedLiabilitiesCurrent
3496000 usd
CY2024Q2 ngne Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
4494000 usd
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AccruedResearchAndDevelopmentCurrent
4895000 usd
CY2024Q2 ngne Accrued Severance Bonus And Retention Costs Current
AccruedSeveranceBonusAndRetentionCostsCurrent
0 usd
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AccruedSeveranceBonusAndRetentionCostsCurrent
2476000 usd
CY2024Q2 ngne Accrued Stock Issuance Costs Current
AccruedStockIssuanceCostsCurrent
0 usd
CY2023Q4 ngne Accrued Stock Issuance Costs Current
AccruedStockIssuanceCostsCurrent
3334000 usd
CY2024Q2 ngne Accrued Asset Acquisition Transaction Costs Current
AccruedAssetAcquisitionTransactionCostsCurrent
0 usd
CY2023Q4 ngne Accrued Asset Acquisition Transaction Costs Current
AccruedAssetAcquisitionTransactionCostsCurrent
2557000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
508000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
737000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7144000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17495000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
519000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
259000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1045000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
518000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
17000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
27000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
14000 usd
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000 usd
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
285000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
56000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
614000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
110000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
19000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
35000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
42000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
838000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
345000 usd
us-gaap Lease Cost
LeaseCost
1728000 usd
us-gaap Lease Cost
LeaseCost
689000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1956000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3987000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3695000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3239000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3294000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
613000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16784000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3104000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13680000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
30000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
60000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
21000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
6000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
117000 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
12000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
105000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3381000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2765000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10915000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13680000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
96000 usd
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
52000 usd
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
53000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
105000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1925000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
33000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M28D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M2D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0973
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1105
us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
1300000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
234000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
605000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
414000 usd
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
1253000 usd
ngne Collaborative Arrangement Rights And Obligations Upfront Payment Percentage
CollaborativeArrangementRightsAndObligationsUpfrontPaymentPercentage
0.80
CY2024Q2 ngne Intellectual Property Contingent Value Rights Liability Current
IntellectualPropertyContingentValueRightsLiabilityCurrent
500000 usd
CY2024Q2 ngne Intellectual Property Contingent Value Rights Liability Current Deductions
IntellectualPropertyContingentValueRightsLiabilityCurrentDeductions
300000 usd
CY2024Q2 us-gaap Asset Acquisition Contingent Consideration Liability Current
AssetAcquisitionContingentConsiderationLiabilityCurrent
1388000 usd
CY2024Q2 us-gaap Asset Acquisition Contingent Consideration Liability Noncurrent
AssetAcquisitionContingentConsiderationLiabilityNoncurrent
717000 usd
CY2023Q4 us-gaap Asset Acquisition Contingent Consideration Liability Current
AssetAcquisitionContingentConsiderationLiabilityCurrent
281000 usd
CY2023Q4 us-gaap Asset Acquisition Contingent Consideration Liability Noncurrent
AssetAcquisitionContingentConsiderationLiabilityNoncurrent
1006000 usd
CY2024Q2 ngne Asset Acquisition Contingent Consideration Covenant Minimum Amount Owed Net Of Deductions
AssetAcquisitionContingentConsiderationCovenantMinimumAmountOwedNetOfDeductions
500000 usd
CY2024Q2 ngne Asset Acquisition Contingent Consideration Accrued Liability
AssetAcquisitionContingentConsiderationAccruedLiability
500000 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
ngne Percentage Of Outstanding Stock Per Stockholder Maximum
PercentageOfOutstandingStockPerStockholderMaximum
0.0999
ngne Percentage Of Outstanding Stock Per Stockholder Upon Notice Maximum
PercentageOfOutstandingStockPerStockholderUponNoticeMaximum
0.1999
ngne Class Of Warrant Or Right Notice Period
ClassOfWarrantOrRightNoticePeriod
P61D
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3449478 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3061555 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2314000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
384000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3359000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
677000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
823833 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.43
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M20D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
808472 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
34.96
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
62136 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
73517 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
79.15
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1496652 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.60
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y5M23D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
543203 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
30.58
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y10M28D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13500000 usd
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9200000 usd
CY2024Q2 ngne Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedIntrinsicValue
1000000.0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
26.22
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.99
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8743
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9084
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8320
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8331
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8639
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9084
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8296
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8370
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0417
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0460
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0350
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0368
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0397
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0460
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0345
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0446
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y29D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
482384 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
2835 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
36.06
CY2024Q2 ngne Share Based Payment Arrangement Number Of Tranches
ShareBasedPaymentArrangementNumberOfTranches
2 tranche
CY2024Q2 ngne Number Of Shares Common Stock Holder To Receive When Restricted Stock Unit Vests
NumberOfSharesCommonStockHolderToReceiveWhenRestrictedStockUnitVests
1 shares
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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