BOSTON & MONTREAL - enGene Holdings Inc. (NASDAQ: ENGN), a biotech firm engaged in developing genetic medicines, has announced the appointment of two new members to its Board of Directors. Paul Hastings and Wouter Joustra have joined the company's board following the annual meeting of shareholders, where Lota Zoth was also reelected. The board now consists of seven members, with the new additions expected to serve until 2027.
The company, currently in a critical phase with its lead program EG-70 targeting non-muscle invasive bladder cancer (NMIBC), is preparing for significant milestones, including a planned Biologics License Application (BLA) submission in early 2026. EG-70 is being evaluated in a pivotal Phase 2 study, with interim data expected to be announced in mid-2024.
CEO Jason Hanson expressed confidence that the new board members' extensive experience in the biopharma industry would be invaluable, particularly in light of the company's aspirations to broaden its pipeline and move towards the BLA filing for EG-70.
Paul Hastings brings a wealth of leadership experience, having held CEO positions at various biopharmaceutical companies, including Nkarta, Inc. (NASDAQ: NKTX) and OncoMed Pharmaceuticals, Inc. He currently serves as Chair of the board at Pacira Biosciences, Inc. (NASDAQ: PCRX) and has a history of board roles in several other biotech firms.
Wouter Joustra, a General Partner at Forbion, a European venture capital firm, comes with a background in deal origination and portfolio management in the life sciences sector. His experience includes serving on the boards of multiple biotech companies and involvement in significant acquisition deals.
InvestingPro Insights
As enGene Holdings Inc. (NASDAQ: ENGN) continues to advance its lead program and prepares for pivotal milestones, the company's financial health remains a key focus for investors. According to InvestingPro data, enGene has a market capitalization of $628 million, which positions it as a mid-cap biotech firm in the industry. Despite the challenges common in the biotech sector, enGene's recent performance reveals a notable 6-month price total return of 77.55%, reflecting investor optimism about the company's prospects. This is particularly relevant as the company approaches the announcement of interim data for its EG-70 program.
Moreover, the company's stock is currently trading at 28.92% of its 52-week high, with a previous close price of $14.24. This metric may suggest room for growth, especially as the company moves closer to its Biologics License Application submission and potential market expansion. Investors should note that enGene's next earnings date is set for June 7, 2024, which could provide further insights into the company's financial trajectory and the progress of its clinical programs.
An InvestingPro Tip to consider is the discrepancy between the fair value estimates provided by analysts and InvestingPro's own fair value calculation. Analyst targets suggest a fair value of $34, whereas InvestingPro's fair value is assessed at $11.38. This variance highlights the importance of conducting thorough research and considering multiple valuation perspectives when evaluating investment opportunities in the biotech sector. For those looking to delve deeper into enGene's financials and gain additional insights, InvestingPro offers 21 more tips, which can be accessed with the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.