EnGene shares tumble 80% after Phase 2 bladder cancer data raise safety concerns

EnGene, a Canadian biotech firm, released updated Phase 2 results for its experimental therapy aimed at a specific group of bladder cancer patients. The company said the new data fell short of expectations and raised questions about the treatment's future viability.

The findings triggered alarm among investors, who noted the lack of clear efficacy signals and potential safety concerns. Analysts described the readout as disappointing and warned that the program may face additional regulatory scrutiny.

Following the announcement, EnGene's stock dropped roughly 80% on Thursday morning, reflecting heightened uncertainty about the drug's development path and the company's broader pipeline prospects.