Thu, Jun 12, 12:09 PM (32 days ago)
**enGene Holdings Inc. (ENGN) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $0 (no revenue generated, as expected for a clinical-stage biotech company). - **Net Loss:** $25.8 million for Q1 2025, $50.4 million for H1 2025 (increased from $15.0 million and $25.7 million in Q1 and H1 2024, respectively). - **Operating Expenses:** $27.1 million for Q1 2025, $53.7 million for H1 2025 (increased from $17.3 million and $28.1 million in Q1 and H1 2024, respectively). - **Research & Development (R&D):** $20.2 million for Q1 2025, $40.2 million for H1 2025 (increased from $9.9 million and $15.5 million in Q1 and H1 2024, respectively). - **General & Administrative (G&A):** $6.9 million for Q1 2025, $13.6 million for H1 2025 (decreased from $7.5 million in Q1 2024, but increased from $12.6 million in H1 2024). - **Cash Position:** $57.5 million in cash and cash equivalents as of April 30, 2025 (decreased from $173.0 million on October 31, 2024). - **Marketable Securities:** $195.2 million in short-term and $34.1 million in long-term marketable securities as of April 30, 2025. - **Total Assets:** $266.7 million as of April 30, 2025 (decreased from $311.2 million on October 31, 2024). - **Liabilities:** $39.4 million in total liabilities as of April 30, 2025 (increased from $38.6 million on October 31, 2024). - **Shareholders' Equity:** $227.3 million as of April 30, 2025 (decreased from $272.6 million on October 31, 2024). - **Cash Burn:** $48.6 million in net cash used in operating activities for H1 2025 (increased from $21.5 million in H1 2024). **Profit Margins:** - **Gross Margin:** Not applicable (no revenue generated). - **Operating Margin:** Not applicable (no revenue generated). - **Net Margin:** Not applicable (no revenue generated). **Cash Flow:** - **Operating Cash Flow:** -$48.6 million for H1 2025 (increased from -$21.5 million in H1 2024). - **Investing Cash Flow:** -$67.0 million for H1 2025 (increased from -$0.7 million in H1 2024). - **Financing Cash Flow:** $0.2 million for H1 2025 (decreased from $205.5 million in H1 2024). **Earnings Changes:** - **Earnings per Share (EPS):** -$0.51 for Q1 2025, -$0.99 for H1 2025 (increased from -$0.38 and -$0.82 in Q1 and H1 2024, respectively). **Quarterly Performance Discussion:** - The increase in net loss and operating expenses is primarily due to higher R&D expenses related to the advancement of the LEGEND study for detalimogene and preparations for the planned Biologics License Application submission. - The company expects to continue incurring significant expenses and operating losses as it advances its clinical trials and prepares for potential commercialization. **Trends & Uncertainties:** - enGene is focused on developing genetic medicines for bladder cancer and other indications using its DDX gene delivery platform. - The company's financial performance is subject to the risks and uncertainties associated with clinical-stage biotech companies, including the success of clinical trials, regulatory approvals, and the ability to secure additional funding. - enGene expects to need substantial additional funding to support its continuing operations and pursue its growth strategy. **Future Operations Impact:** - enGene plans to continue advancing its LEGEND study for detalimogene, file a Biologics License Application with the FDA in mid-2026, and explore potential pipeline expansion and commercialization opportunities. - The company's ability to execute its plans and achieve its goals will depend on its financial resources, the success of its clinical trials, and its ability to navigate the regulatory environment.