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Jan 31, 2024
Engene Q1 2024 Earnings Report
enGene reported financial results for Q1 2024 and provided a corporate progress update.
Key Takeaways
enGene reported a net loss attributable to common shareholders of $10.7 million, or $0.46 per share, for the three months ended January 31, 2024. The company's cash and cash equivalents were $85.6 million as of January 31, 2024, and with the recent private placement, expects to fund operations into 2027.
Pivotal phase 2 LEGEND study of EG-70 in BCG-unresponsive NMIBC remains on track with interim data anticipated in mid-2024.
Closed a $200 million oversubscribed private financing, expected to extend cash runway into 2027.
Total operating expenses were $10.8 million for the three months ended January 31, 2024.
Net loss attributable to common shareholders was $10.7 million, or $0.46 per share for the three months ended January 31, 2024.
Forward Guidance
enGene anticipates several milestones and corporate updates.
Positive Outlook
- Announce a new indication and development plans for EG-70 in the first half of 2024.
- Interim data readout from the ongoing pivotal Phase 2 LEGEND study of EG-70 in BCG-unresponsive NMIBC with carcinoma-in-situ (Cis) in mid-2024.
- Initial efficacy data from the ongoing Phase 2 LEGEND study in a BCG-naive NMIBC cohort in the second half of 2024.
Historical Earnings Impact
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