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enGene Holdings ( (ENGN) ) has provided an announcement.
enGene has expanded its debt facility with Hercules Capital to up to $125 million, securing additional non-dilutive financing to support the planned Biologics License Application for its lead bladder cancer gene therapy, detalimogene voraplasmid, and to prepare for potential U.S. commercialization. The amended agreement immediately advances $25 million to refinance existing debt and provides access to up to $100 million in additional term loan tranches tied to clinical, regulatory and commercial milestones, bolstering enGene’s balance sheet and giving it greater financial flexibility as it moves from late-stage development toward a possible market launch in a competitive bladder cancer treatment landscape.
The most recent analyst rating on (ENGN) stock is a Hold with a $9.50 price target. To see the full list of analyst forecasts on enGene Holdings stock, see the ENGN Stock Forecast page.
Spark’s Take on ENGN Stock
According to Spark, TipRanks’ AI Analyst, ENGN is a Neutral.
The score is held back primarily by weak financial performance (no revenue, large operating losses, and heavy ongoing cash burn). Technicals provide the main support, with the stock trading above key moving averages and positive MACD. Corporate events are mildly positive due to improved funding and leadership additions, while valuation remains difficult to assess due to a negative P/E and no dividend yield data.
To see Spark’s full report on ENGN stock, click here.
More about enGene Holdings
enGene Holdings is a clinical-stage, non-viral genetic medicines company developing gene therapies for oncology, with a lead investigational product, detalimogene voraplasmid, targeting high-risk, Bacillus Calmette-Guérin-unresponsive non-muscle invasive bladder cancer. Its Dually Derivatized Oligochitosan (DDX) platform is designed to offer localized, non-viral gene delivery that may simplify manufacturing and administration compared with viral-based gene therapies, addressing significant unmet needs in bladder cancer treatment.
Average Trading Volume: 1,248,409
Technical Sentiment Signal: Buy
Current Market Cap: $623.6M
For detailed information about ENGN stock, go to TipRanks’ Stock Analysis page.