Start here if you're new
what it is
EnGene is trying to make a gene medicine for bladder cancer.
how it gets paid
Last year Engene made n/a in revenue.
what just happened
Latest quarter EPS was $0.44, and revenue was listed at $0M.
At a glance
n/a balance sheet
-$2.30 fy2025 eps est
$2B fy2026 rev est
~$480M market cap
small cap
What they do
enGene is trying to make a gene medicine for bladder cancer.
enGene has 81 employees and 1 lead candidate. That is a tiny team carrying a whole stock. DDX delivery platform -> drug delivery system -> it aims the medicine at the bladder lining, not the whole body. For you, that means one readout can move the story because there is only 1 lead program.
How they make money
n/a
annual revenue
The products that matter
lead bladder cancer therapy
detalimogene voraplasmid
1 lead clinical asset
it's the entire equity story right now: a ~$480M company with no commercial revenue and $312.5M in cash rises or falls on this program.
single-asset thesis
non-viral delivery platform
DDX platform
0 products on market
this is the technology bet underneath the lead asset. the pitch is cleaner local delivery without a viral vector. with 0 approved products, it still needs proof more than adjectives.
promise, not proof
balance sheet runway
cash position
$312.5M on hand
for a pre-revenue biotech, cash is not a footnote. it is the thing buying time for the LEGEND trial to matter.
runway matters
Key numbers
$9.78
share price
That is the price you pay today for one share.
$480M
market cap
That is the market's current price for the whole company.
$22M
long-term debt
That is debt already sitting ahead of you.
-$2.30
FY2025 EPS
That loss means the business is still spending cash, not producing it.
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $22M (4% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for ENGN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Latest quarter EPS was $0.44, and revenue was listed at $0M.
EPS was down 8% vs. prior year, and the company still looks like a pre-sales biotech.
$0M
revenue
$0.44
eps
8%
vs. last year eps
revenue
Revenue matters most because you can't build a sales cushion around one lead drug candidate.
source: company earnings report, 2026
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What could go wrong
The #1 risk here is clinical failure or delay for detalimogene voraplasmid. This is not a diversified biotech. It is one main program, one cash pile, and one market waiting for proof.
med
single-asset dependency
Detalimogene voraplasmid carries most of the thesis. If the LEGEND study disappoints on efficacy, safety, or timing, there is no approved product portfolio to absorb the damage.
A setback here does not trim the story. It breaks the story.
med
ATM dilution
The company has filed to sell up to $100M in shares through an at-the-market program. That gives management flexibility. It also gives you a moving share count.
If that facility gets used heavily before a major de-risking event, the market can treat it as a warning shot on cash needs.
med
competitive data can hit the stock before ENGN reports anything
Shares fell 19% after a competitor released data. That tells you how fragile sentiment is when the field is still being sorted out.
Even clean internal execution might not save the stock from bad read-throughs across the bladder cancer landscape.
At roughly $167.5M enterprise value, the upside case is obvious. So is the trap: one bad clinical turn can make even a cash-rich pre-revenue biotech feel expensive.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
LEGEND trial updates
This is the event path that matters. Progress, delay, or any change in language around the lead study will move the stock more than routine quarterly numbers.
balance sheet
cash balance versus the current $312.5M
In a pre-revenue biotech, the cash line is the operating metric. You want to see time being bought, not burned too fast.
dilution
use of the $100M ATM program
If the company taps it aggressively, the runway improves while your share of the upside shrinks. Both things can be true at once.
read-through
competitive bladder cancer data
The prior 19% drop after competitor news made the point. This stock trades on what ENGN says and on what the rest of the field says.
Analyst rankings
chart momentum
top 5%
momentum rank 1 — the highest rating — analysts expect this stock to outperform almost everything.
source: institutional data
Institutional activity
institutional ownership data for ENGN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$10
current price
n/a
target midpoint · n/a from current
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