Biotech firm Regenxbio Q2 net loss widens
Overview
The clinical-stage biotechnology firm focused on gene therapy posts Q2 net loss of $70.9 mln vs $53.0 mln last year
Q2 revenues dip to $21.4 mln, mainly due to lower Zolgensma royalties
Outlook
Regenxbio anticipates cash runway into early 2027
Result Drivers
RGX-202 PROGRESS - Accelerated pivotal trial enrollment for Duchenne muscular dystrophy, expected to complete by October 2025
ZOLGENSMA ROYALTY DECLINE - Revenue decrease mainly attributed to lower Zolgensma royalties, partially offset by Nippon Shinyaku partnership service revenues
INCREASED R&D EXPENSES - Higher costs due to manufacturing and clinical trials for sura-vec and RGX-202
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 License & Royalty Revenue | $18.46 mln | ||
Q2 Net Income | -$70.87 mln | ||
Q2 Operating Expenses | $84.64 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Regenxbio Inc is $31.50, about 73.9% above its August 6 closing price of $8.23
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