For the quarter ending 2026-03-31, NERV has $94,027,156 in assets. $343,079,094 in debts. $32,659,770 in cash and cash equivalents.
| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 32,659,770 | 82,301,813 | 12,286,646 | 15,247,910 |
| Marketable securities | 45,405,126 | - | - | - |
| Restricted cash | 100,000 | 100,000 | 100,000 | 100,000 |
| Prepaid expenses and other current assets | 941,883 | 697,676 | 633,533 | 199,615 |
| Total current assets | 79,106,779 | 83,099,489 | 13,020,179 | 15,547,525 |
| Equipment, net | - | 0 | 1,360 | 2,721 |
| Goodwill | 14,869,399 | 14,869,399 | 14,869,399 | 14,869,399 |
| Deferred offering costs | 50,978 | - | 201,114 | - |
| Total assets | 94,027,156 | 97,968,888 | 28,092,052 | 30,419,645 |
| Accounts payable | 2,118,225 | 639,707 | 944,492 | 896,799 |
| Accrued expenses and other current liabilities | 2,363,968 | 1,650,766 | 1,727,830 | 1,632,059 |
| Total current liabilities | 4,482,193 | 2,290,473 | 2,672,322 | 2,528,858 |
| Warrant liability | 278,596,901 | 171,464,575 | - | - |
| Liability related to the sale of future royalties | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 |
| Total liabilities | 343,079,094 | 233,755,048 | 62,672,322 | 62,528,858 |
| Series a convertible preferred stock 0.0001 par value 200,000 shares authorized 3,296 issued and outstanding liquidation preference of 0 as of march 31, 2026 and december 31, 2025 | 4,961,922 | 4,961,922 | - | - |
| Common stock 0.0001 par value 250,000,000 shares authorized 43,841,998 shares issued and outstanding as of march 31, 2026 and 43,274,398 shares issued and outstanding as of december 31, 2025 | 4,384 | 4,327 | 699 | 699 |
| Additional paid-in capital | 560,185,880 | 548,047,331 | 370,551,108 | 370,278,211 |
| Accumulated deficit | -814,204,124 | -688,799,740 | -405,132,077 | -402,388,123 |
| Total stockholders' deficit | -254,013,860 | -140,748,082 | -34,580,270 | -32,109,213 |
| Total liabilities, redeemable preferred stock and stockholders' deficit | 94,027,156 | 97,968,888 | 28,092,052 | 30,419,645 |