This invention relates to novel pharmaceutical composition comprising tegaserod and/or a pharmaceutically acceptable salt thereof for the treatment of neurological injuries, such as traumatic and chronic lesions of the central and peripheral nervous systems and for regenerating damaged nerves and nerve function. The pharmaceutical compositions of the invention can also be used for treatment and/or prevention of acute and chronic injuries to the central and peripheral nervous systems, for promoting growth and/or regrowth of nerves and enhancing formation of synapses and synaptic plasticity, and for neuroprotection.