enGene Holdings Inc. Files 10-Q for April 30, 2024

TL;DR

enGene 10-Q filed! Check convertible debenture liabilities & financials.

AI Summary

enGene Holdings Inc. filed its 10-Q for the period ending April 30, 2024. The company reported on changes in the fair value of convertible debentures embedded derivative liabilities and its financial performance. Key dates mentioned include the filing date of June 14, 2024, and fiscal year-end October 31.

Why It Matters

This filing provides investors with an update on enGene's financial position and any significant changes in its liabilities, which can impact its valuation and future prospects.

Risk Assessment

Risk Level: medium — The filing details financial instruments like convertible debentures and their fair value changes, which can introduce financial risk.

Key Numbers

• 20240430 — Reporting Period End Date (The end of the fiscal quarter being reported on.)
• 20240614 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1031 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• enGene Holdings Inc. (company) — Filer of the 10-Q
• 20240430 (date) — End of the reporting period
• 20240614 (date) — Filing date
• Convertible Debentures Embedded Derivative Liabilities (financial_instrument) — Key financial item discussed
• Anthony Cheung (person) — Mentioned in relation to a Rule 10b5-1 trading plan

FAQ

Key Financial Figures

• $11.50 — e Common Share, at an exercise price of $11.50 per share ENGNW The Nasdaq Stock Ma

Filing Documents

• engn-20240430.htm (10-Q) — 1998KB
• engn-ex10_2.htm (EX-10.2) — 122KB
• engn-ex31_1.htm (EX-31.1) — 18KB
• engn-ex31_2.htm (EX-31.2) — 18KB
• engn-ex32_1.htm (EX-32.1) — 9KB
• engn-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-073330.txt ( ) — 9611KB
• engn-20240430.xsd (EX-101.SCH) — 1818KB
• engn-20240430_htm.xml (XML) — 1335KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets as of April 30, 2024 and October 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three and Six Months Ended April 30, 2024 and 2023 5 Condensed Consolidated Statements of Redeemable Convertible Preferred Shares and Shareholders' Deficit for the Three and Six Months Ended April 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended April 30, 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 43 PART II. OTHER INFORMATION 45 Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Omitted 46 Item 4. Omitted 46 Item 5. Other Information 46 Item 6. Exhibits 46

Signatures

Signatures 48 1 SPECIAL NOT E REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Quarterly Report on Form 10-Q may constitute "forward-looking statements" within the meaning of U.S. securities laws and "forward-looking information" within the meaning of Canadian securities laws (collectively, "forward-looking statements"). enGene's forward-looking statements include, but are not limited to, statements regarding enGene's management teams' expectations, hopes, beliefs, intentions, goals or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "appear," "approximate," "believe," "continue," "could," "estimate," "expect," "foresee," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "seek," "should," "would" and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this Quarterly Report on Form 10-Q may include, for example, statements about: the ability of enGene to recognize the anticipated benefits of the business combination between FEAC, the Company and Old enGene and related transactions ("Business Combination"), which may be affected by, among other things, competition and the ability of the combined business to grow and manage growth profitably; enGene's financial performance following the Business Combination, including financial projections and business metrics and any underlying assumptions thereunder; the ability to maintain the listing of the Company's common shares ("Common Shares") and warrants to purchase Common Shares ("Warrants") on Nasdaq or another national securities exchange; enGene's success in recruiting and retainin

—FIN ANCIAL INFORMATION

PART I—FIN ANCIAL INFORMATION Ite m 1. Financial Statements. ENGENE HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS OF USD, EXCEPT FOR SHARE AND PER SHARE DATA) (Unaudited) April 30, 2024 October 31, 2023 Assets Current assets: Cash and cash equivalents $ 264,810 $ 81,521 Restricted certificate of deposit 75 76 Investment tax credits receivable 1,213 2,343 Prepaid and other current assets 3,511 1,500 Total current assets 269,609 85,440 Property and equipment, net 1,107 589 Operating lease right of use asset 1,837 — Other assets 975 930 Total assets $ 273,528 $ 86,959 Liabilities, redeemable convertible preferred shares and shareholders' equity Current liabilities: Accounts payable $ 211 $ 1,156 Accrued expenses and other current liabilities 5,667 3,539 Operating lease liabilities, current 421 — Current portion of notes payable — 562 Total current liabilities 6,299 5,257 Note payable, net of current portion 22,730 9,216 Operating lease liabilities, net of current portion 1,533 — Total liabilities 30,562 14,473 Shareholders' equity : Preferred shares, no par value; unlimited shares authorized, no shares issued and outstanding as of April 30, 2024 and October 31, 2023. — — Common shares, no par value; unlimited shares authorized, 44,158,587 and 23,197,976 shares issued and outstanding as of April 30, 2024 and October 31, 2023, respectively. 453,405 259,373 Additional paid-in capital 15,860 13,717 Accumulated other comprehensive loss ( 1,016 ) ( 1,016 ) Accumulated deficit ( 225,283 ) ( 199,588 ) Total shareholders' equity 242,966 72,486 Total liabilities, redeemable convertible preferred shares and shareholders' equity $ 273,528 $ 86,959 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 ENGENE HOLDI

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