enGene Holdings Q1 Net Loss Attributable To Common Shareholders $(10.7)M Or $(0.46) Per Share
Portfolio Pulse from Benzinga Newsdesk
enGene Holdings reported a Q1 net loss of $10.7 million, or $0.46 per share. The company also closed a $200 million oversubscribed private financing, extending its cash runway into 2027.
March 11, 2024 | 9:41 pm
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enGene Holdings reported a significant Q1 net loss but secured a substantial $200 million in financing, ensuring operational funding into 2027.
While the Q1 net loss might initially concern investors, the successful closure of a $200 million financing deal is a strong positive signal. This financing not only offsets the immediate negative impact of the loss by ensuring the company's operational stability and growth potential into 2027 but also demonstrates investor confidence in enGene's long-term prospects.
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