libre de droit/iStock via Getty Images Recently, in May 2026, enGene Therapeutics Inc. ( ENGN ) stock crashed by roughly 80% in a single day because its Phase 2 interim data results were worse than expected. The biggest problem that arose was the 12-month durability of the therapy, which fell drastically and caused analysts to drop their estimates. EnGene has been focusing on a single asset, an in...
libre de droit/iStock via Getty Images Recently, in May 2026, enGene Therapeutics Inc. ( ENGN ) stock crashed by roughly 80% in a single day because its Phase 2 interim data results were worse than expected. The biggest problem that arose was the 12-month durability of the therapy, which fell drastically and caused analysts to drop their estimates. EnGene has been focusing on a single asset, an in vivo gene therapy called detalimogene voraplasmid (EG-70), for non-muscle bladder cancer (NMIBC). The whole company fully relies on this one drug, which makes it extremely volatile, but despite this, I believe that the 80% drop in the price is overexhausted. At this point, even though the data was worse than expected, it did not fail, and enGene is currently moving forward with the drug. At this point, I rate the company as a buy because they are trading below its cash value, and if there is a chance that the drug will get approved by the FDA, an investment at this price has huge potential. Even though there is also a huge risk connected to the investment (like competition, the therapy not getting approved, and insurance providers declining to fund the treatments), as the stock is trading below cash value, the total bottom cannot be too much further down, and so even if the drug is not approved, the price would hopefully not fall much further, which lowers the risk to gain ratio. Main Pipeline Drug The main pipeline drug of enGene (detalimogene voraplasmid) was created to treat high-risk, non-muscle invasive bladder cancer (NMIBC). This drug has potential among competing drugs, mainly thanks to its safety profile, because competing drugs often cause toxicity, physical irritation, or severe immune-related side effects. EnGene is focusing on a non-viral gene therapy that would be delivered straight into the bladder via a catheter. Detalimogene voraplasmid is based on a proprietary DDX platform that delivers genetically encoded plasmid DNA into the tissue. This package tells ...
Live Championship updates from 11am UK time Email Tanya | MCC apologises for Lord’s pitch Simon expertly wraps things up. More cracking writing from Andy Bull. Continue reading...
Live Championship updates from 11am UK time Email Tanya | MCC apologises for Lord’s pitch Simon expertly wraps things up. More cracking writing from Andy Bull. Continue reading...
Strategists at some of Wall Street’s biggest banks are looking past Friday’s tech-led selloff, saying earnings growth should support stocks through the end of the year. A historic AI-related rally on Wall Street came to an abrupt halt after nine weeks, as tech stocks fell sharply. The Philadelphia Stock Exchange Semiconductor Index clocked its biggest drop since 2020, while the Nasdaq 100 fell 4.8...
Strategists at some of Wall Street’s biggest banks are looking past Friday’s tech-led selloff, saying earnings growth should support stocks through the end of the year. A historic AI-related rally on Wall Street came to an abrupt halt after nine weeks, as tech stocks fell sharply. The Philadelphia Stock Exchange Semiconductor Index clocked its biggest drop since 2020, while the Nasdaq 100 fell 4.8%. Still, Morgan Stanley strategists led by Mike Wilson are sticking to their view that the S&P 500 should hit 8,000 by year-end, underpinned by the breadth of upward revisions to earnings and supportive macro data. “Markets rarely move in a straight line at the pace seen since the March lows,” he wrote in a research note published Monday. “A correction was inevitable and ultimately healthy if this bull market is going to extend into year-end.” His optimism was echoed by Citigroup Inc. strategists led by Scott Chronert , who raised their year-end target for the S&P 500 to 8,100 from 7,700, after a “big step up” in earnings expectations. The new level implies 9.7% upside versus Friday’s close. Higher bond yields contributed to Friday’s selloff after a solid US jobs report added to bets that the US Federal Reserve’s next interest-rate move will be a hike, dampening risk sentiment. How the market develops from here will depend on the pace at which crowded positioning in semiconductor and memory stocks returns to normal, the Morgan Stanley strategists noted. They stuck to their call that some cyclical sectors, including consumer discretionary, transport and regional bank stocks, are well positioned to outperform. Wilson stayed bullish throughout the slump triggered by the Iran war and was particularly upbeat about the outlook for corporate earnings. His view proved correct as markets rallied back to all-time highs.
Abu Dhabi National Oil Co. is selling a bumper volume of crude originating from inside the Persian Gulf to traders and refiners in Asia, in the first tenders of their kind for such grades since the Iran war began. At least 14 million barrels of United Arab Emirates crudes including Upper Zakum, Umm Lulu and Das have been sold via a tender that concluded at the end of last week, said traders famili...
Abu Dhabi National Oil Co. is selling a bumper volume of crude originating from inside the Persian Gulf to traders and refiners in Asia, in the first tenders of their kind for such grades since the Iran war began. At least 14 million barrels of United Arab Emirates crudes including Upper Zakum, Umm Lulu and Das have been sold via a tender that concluded at the end of last week, said traders familiar with the matter, who asked not to be identified as they aren’t allowed to speak to the media. Even more is likely to be bought, as Adnoc is running another tender with similar terms that wraps up at the end of this week. The crude volumes will load from June to August. The bulk of oil already sold was the Upper Zakum variety, which typically loads from Zirku island in the Persian Gulf, traders said. The crude can be picked up from locations including Fujairah or Sohar, located outside the Persian Gulf and doesn’t require transiting the blockaded Strait of Hormuz. The crude was sold to refiners based in countries across Asia including China, Japan, South Korea and India, the traders said. The Gulf crude cargoes were said to have mostly transacted at premiums of just a few dollars to the Dubai benchmark, and at least one shipment was even sold at a roughly $1 a barrel discount to the same marker, they added. Adnoc didn’t immediately respond to a request for comment. While the total amounts of crude sold are still far lower compared with pre-war levels, the UAE has been gradually ramping up oil flows through Hormuz, bringing additional supply to a market that’s still starved of Middle Eastern oil. Bloomberg tanker tracking puts visible flows out of the UAE at around 2.6 million barrels a day in May. That’s likely aided by crude tankers making it out of the Strait of Hormuz on top of oil that is transported through its underground pipeline to Fujairah.