enGene Holdings Inc. priced a $130 million public offering of 12,558,823 common shares at $8.50 per share, accompanied by 2,735,295 pre‑funded warrants to purchase shares at $8.4999 per warrant. The aggregate gross proceeds are expected to be approximately $130 million before underwriting discounts and commissions. The offering is underwritten by Jefferies, Leerink Partners and Wells Fargo Securities, with Raymond James, Van Lanschot Kempen and H.C. Wainwright & Co. as co‑managers, and is expected to close on or about November 14, 2025.
The proceeds will be directed primarily to advance enGene’s lead program, the LEGEND Phase 2 trial of detalimogene voraplasmid for non‑muscle invasive bladder cancer. Funding will support clinical development, manufacturing scale‑up, and potential regulatory filings, positioning the company for a Biologics License Application in 2026. The capital injection also provides a buffer for ongoing research and development activities across the company’s pipeline.
enGene’s current cash, cash equivalents and marketable securities total $251.5 million as of April 30, 2025. In addition to the new equity, the company maintains an undrawn $27.5 million debt facility with Hercules Capital and a $100 million limit under an Open Market Sale Agreement with Jefferies. The underwriters also hold a 30‑day option to purchase up to 2,294,117 additional shares at the offering price, giving the company further flexibility to meet future capital needs.
Market reaction to the pricing was largely driven by the positive clinical data released earlier in the month from the LEGEND trial, which showed a 62 % complete response rate at six months. Investors had already priced in the trial results, so the offering itself did not generate a significant shift in market sentiment. The announcement reinforced confidence in enGene’s ability to fund its development milestones and extend its runway into 2027.
The $130 million offering strengthens enGene’s financial position, allowing it to continue advancing its non‑viral gene therapy platform and compete in the growing non‑muscle invasive bladder cancer market. With a robust cash balance, a flexible debt facility, and a clear regulatory pathway, the company is well positioned to translate its clinical successes into a future commercial product.
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