Analysts cut enGene cancer sales forecast after updated data widen gap to J&J

Summary: enGene Therapeutics had high hopes for its new bladder cancer gene therapy. However, recent test results showed the drug only worked for 43% of patients after six months. This is much lower than rival treatments from companies like Johnson & Johnson, which hit around 60%. Because of this gap in effectiveness, financial experts slashed their sales predictions for enGene's drug from $1 billion down to $350 million. They also dropped the company's stock price target from $19 to just $2. While the drug might still get approved by the FDA because it is easy to use, it will likely struggle to compete in the market.

Source: rssapp-fiercebiotech-com URL: fiercebiotech.com/biotech/analysts-cut-engene-cancer-sales-forecast-after-updated-data-widen-gap-jj (opens in new tab)