enGene Therapeutics Inc.

Clinical/early-stage biotech — gene-therapy clinical, heavy burn ($101M), funded.

Strengths

• Liquidity — current ratio 6.3 (63rd)

Risks

• Pre-revenue, deep losses — per metrics
• Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
• Binary clinical & funding risk — per 10-K

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Cash burnNegative free cash flow (-100.7M)
• Chronic dilutionShare count +659%/yr over 2y (dilution, book value/share -96%)
• Strong balance sheetStrong balance sheet — $202M cash & investments, ~8 quarters of runway