REGENXBIO Inc. reported its financial results for the second quarter of 2025, revealing total revenues of $21.4 million, a decrease from $22.3 million in the same period last year. The decline was primarily driven by a drop in license and royalty revenue, which fell to $18.5 million from $21.8 million, largely due to reduced royalties from Zolgensma, a product marketed by Novartis Gene Therapies. In contrast, service revenue increased significantly to $2.9 million, up from $0.4 million, attributed to development services under the collaboration with Nippon Shinyaku.
The company's operating expenses for the quarter rose to $84.6 million, compared to $78.3 million in the prior year. This increase was mainly due to higher research and development costs, which surged to $59.5 million from $48.9 million, reflecting increased manufacturing and clinical trial expenses for lead product candidates, particularly ABBV-RGX-314 and RGX-202. General and administrative expenses also rose to $19.9 million, up from $18.9 million, driven by personnel-related costs and professional services.
REGENXBIO's net loss for the second quarter was $70.9 million, compared to a loss of $53.0 million in the same quarter of 2024. The increase in net loss was influenced by a significant rise in interest expenses, which jumped to $11.0 million from $0.4 million, primarily due to the company's royalty monetization liabilities and the newly issued 2025 Royalty Bond. The company reported an accumulated deficit of $996.9 million as of June 30, 2025.
In terms of strategic developments, REGENXBIO has made significant progress in its collaborations, particularly with AbbVie and Nippon Shinyaku. The company received a $110 million upfront payment from Nippon Shinyaku in March 2025 and is eligible for up to $700 million in milestone payments. Additionally, REGENXBIO is actively advancing its clinical trials, including pivotal studies for ABBV-RGX-314 and RGX-202, with expectations to share topline data in 2026.
Looking ahead, REGENXBIO anticipates continued investment in research and development, with a focus on advancing its gene therapy product candidates. The company believes its current cash, cash equivalents, and marketable securities of $363.6 million will be sufficient to fund operations for at least the next 12 months. However, the company acknowledges the need for additional capital to support its ongoing development efforts and potential commercialization activities.
About REGENXBIO Inc.
Regenxbio Inc. is a biotechnology company specializing in gene therapy using its proprietary NAV® AAV vector platform. It develops investigational treatments for retinal, neuromuscular, and neurodegenerative diseases, delivering functional genes to address genetic defects. The company partners with industry leaders, licenses its platform to others, and focuses on scalable manufacturing and innovative delivery devices to provide long-lasting, potentially curative therapies.
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