enGene Reports Q2 EPS Of $(0.38) Loss, Company Exits Quarter With Cash & Equivalents Worth $264.8M
Portfolio Pulse from Benzinga Newsdesk
enGene reported a Q2 EPS loss of $0.38, with a net loss of $15.0 million for the quarter ending April 30, 2024. The company exited the quarter with $264.8 million in cash and equivalents. The increased net loss is mainly due to higher operating expenses, partially offset by net interest income.
June 14, 2024 | 11:06 am
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enGene reported a Q2 EPS loss of $0.38, with a net loss of $15.0 million for the quarter ending April 30, 2024. The company exited the quarter with $264.8 million in cash and equivalents. The increased net loss is mainly due to higher operating expenses, partially offset by net interest income.
The reported EPS loss and increased net loss due to higher operating expenses are likely to negatively impact enGene's stock price in the short term. However, the substantial cash reserves may provide some cushion.
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