NGC 7424 is a barred spiral galaxy located 37.5 million light-years away in the southern constellation Grus (the Crane).

[4] SN 2001ig[5] was a rare Type IIb supernova discovered by Australian amateur Robert Evans on the outer edge of NGC 7424 on 10 December 2001.

[9] In a paper published in March 2018, Ryder et al. announced that the surviving companion had been observed with the Hubble Space Telescope in the ultraviolet.

The source designated ULX1 was found in a relatively empty interarm region, far from any bright clusters or star-forming complexes, and showed a 75% increase in X-ray luminosity over the course of 20 days.

ULX2 was found in an exceptionally bright young stellar complex, and showed an order of magnitude increase over the same time period.