RegenXBio Inc. ( (RGNX) ) has released its Q3 earnings. Here is a breakdown of the information RegenXBio Inc. presented to its investors.
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RegenXBio Inc. is a clinical-stage biotechnology company specializing in the development of gene therapies to treat rare and retinal diseases. The company’s recent financial report highlights significant progress in its gene therapy programs, including the advancement of RGX-202 for Duchenne Muscular Dystrophy and RGX-121 for MPS II, alongside promising data for ABBV-RGX-314 in collaboration with AbbVie for retinal diseases.
RegenXBio reported revenues of $24.2 million in the third quarter of 2024, a decrease from the previous year, attributed primarily to a decline in Zolgensma royalty revenues. Despite the revenue dip, the company made key strategic strides, including the initiation of pivotal trials and a BLA submission. The company also highlighted positive Phase II data for ABBV-RGX-314 indicating its potential for long-term vision preservation as a one-time treatment.
The company’s research and development expenses decreased to $54.4 million, reflecting lower personnel costs but increased clinical trial activities. General and administrative expenses also saw a reduction, with a net loss reported at $59.6 million, slightly improved from the previous year. RegenXBio maintains a strong cash position, expected to fund operations into 2026.
Looking ahead, RegenXBio plans to continue its momentum in advancing gene therapy programs, with pivotal trials and regulatory submissions on the horizon. The company’s strategic focus remains on delivering transformative therapies that address unmet medical needs, showcasing its commitment to innovation in the gene therapy space.
