REGENXBIO Reports $89M Revenue and $6.1M Net Income in Latest Quarter

REGENXBIO Inc. reported significant financial improvements in its latest quarterly filing, with total revenues reaching $89.0 million for the three months ended March 31, 2025, compared to $15.6 million in the same period last year. This increase of $73.4 million was primarily driven by a substantial rise in license and royalty revenue, which surged to $87.0 million from $15.3 million, largely due to a one-time $70.0 million license fee from its collaboration with Nippon Shinyaku. The company also recognized $2.0 million in service revenue, up from $0.3 million, reflecting increased development service activities under the same collaboration.

Operating expenses for REGENXBIO decreased to $76.9 million from $79.5 million year-over-year, with notable reductions in costs associated with license and royalty revenues and research and development. Research and development expenses fell slightly to $53.1 million, down from $54.8 million, attributed to decreased clinical trial costs. General and administrative expenses, however, increased by $2.1 million to $20.3 million, driven by higher personnel-related costs and professional services. The company reported a net income of $6.1 million, a significant turnaround from a net loss of $63.3 million in the prior year.

In terms of operational developments, REGENXBIO has made strides in its clinical pipeline, particularly with its lead product candidates. The company is advancing multiple pivotal trials for ABBV-RGX-314, a gene therapy for chronic retinal conditions, and has recently entered into a collaboration with Nippon Shinyaku for RGX-121 and RGX-111, which are aimed at treating Mucopolysaccharidosis Type II and I, respectively. The collaboration agreement included an upfront payment of $110.0 million and potential milestone payments totaling $700.0 million, indicating strong future revenue potential.

As of March 31, 2025, REGENXBIO reported cash, cash equivalents, and marketable securities totaling $272.7 million, bolstered by the recent collaboration agreements. The company anticipates that its current financial resources will be sufficient to fund operations for at least the next 12 months. However, it continues to face challenges in achieving recurring profitability, with an accumulated deficit of $926.1 million. The outlook remains cautious, as the company emphasizes the need for successful development and commercialization of its product candidates to generate sustainable revenue streams in the future.