Quarterly ResultJun 15, 2026, 09:27 AM
enGene Holdings Q2 Net Loss $30.2M; Workforce Reduced by 50%
AI Summary
enGene Holdings Inc. reported a net loss of $30.2 million for the three months ended April 30, 2026, and $59.9 million for the six months ended April 30, 2026. The company also announced a plan to reduce its workforce by approximately 50% to streamline operations and preserve cash. Despite ongoing losses and negative cash flows, recent financing activities, including a public offering and a new term loan, have significantly increased total assets and shareholders' equity, with management expecting sufficient liquidity for at least the next 12 months.
Key Highlights
- Net loss for the three months ended April 30, 2026, was $30.2 million, up from $25.8 million year-over-year.
- Net loss for the six months ended April 30, 2026, was $59.9 million.
- Company announced a plan to reduce its workforce by approximately 50% in June 2026.
- Cash and cash equivalents totaled $29.8 million as of April 30, 2026.
- Total assets increased to $307.5 million as of April 30, 2026, from $221.5 million on October 31, 2025.
- Raised $126.25 million from a public offering and $23.25 million from pre-funded warrants.
- Secured a $25.0 million Second Amended Term Loan.
- Accumulated deficit reached $432.0 million as of April 30, 2026.
Price Impact
More from ENGN