REGENXBIO Inc.
Business
REGENXBIO Inc. is a clinical-stage biotechnology company that develops adeno-associated virus (AAV) vector-based gene therapies using its proprietary NAV® Technology Platform. It offers investigational and commercial AAV Therapeutics, including retinal, neuromuscular and neurodegenerative candidates (for example ABBV‑RGX‑314, RGX‑202, RGX‑121 and RGX‑111), as well as delivery devices, manufacturing platforms (NAVXpress®) and analytical services. The company operates integrated research and development, clinical development and manufacturing capabilities and sublicensing/collaboration activities. Its products and programs are advanced through global clinical trials and commercial collaborations, partnerships and CDMO channels.
Summary from filing dated 2025-03-13
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 170 | 83 | 90 | 113 | 470 | |
| Cost of license and royalty revenues | 20 | 34 | — | — | — | |
| Research and development | 228 | 209 | 232 | 242 | 181 | |
| General and administrative | 83 | 77 | 88 | 85 | 79 | |
| Credit losses (recoveries) | — | −5 | 0 | 0 | −3 | |
| Impairment of long-lived assets | — | 2 | — | — | — | |
| Other operating expenses | 179,000 | 865,000 | 397,000 | −7 | 333,000 | |
| Total operating expenses | 332 | 317 | 358 | 376 | 310 | |
| Loss from operations | −161 | −233 | −268 | −263 | 160 | |
| Interest income from licensing | 83,000 | 174,000 | 25,000 | 342,000 | 719,000 | |
| Investment income | 12 | 19 | 11 | 5 | 7 | |
| Interest expense | −45 | −13 | −7 | −23 | — | |
| Total other income (expense) | −33 | 6 | 4 | −18 | −19 | |
| Net loss | −194 | −227 | −263 | −280 | 128 | |
| Unrealized gain on available-for-sale securities, net | 54,000 | 4 | 11 | −13 | −2 | |
| Total other comprehensive income | 54,000 | 4 | 11 | −13 | −2 | |
| Comprehensive loss | −194 | −223 | −253 | −293 | 126 | |
| Net loss per share, basic | −3.76 | −4.59 | −6.02 | −6.5 | 3.01 | |
| Net loss per share, diluted | −3.76 | −4.59 | −6.02 | −6.5 | 2.91 | |
| Weighted-average common shares outstanding, basic | 52 | 50 | 44 | 43 | 42 | |
| Weighted-average common shares outstanding, diluted | 52 | 50 | 44 | 43 | 44 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 34 | 58 | 35 | 97 | 345 | |
| Marketable securities | 196 | 177 | 241 | 268 | 112 | |
| Accounts receivable | 26 | 20 | 25 | 28 | 32 | |
| Prepaid expenses | 12 | 9 | 15 | 14 | 19 | |
| Other current assets | 13 | 14 | 20 | 9 | 10 | |
| Total current assets | 281 | 278 | 335 | 416 | 519 | |
| Marketable securities | 11 | 10 | 39 | 201 | 392 | |
| Accounts receivable | 2 | 474,000 | 701,000 | 2 | 2 | |
| Property and equipment, net | 105 | 118 | 132 | 142 | 132 | |
| Operating lease right-of-use assets | 47 | 54 | 60 | 65 | 61 | |
| Restricted cash | 2 | 2 | 2 | 2 | 2 | |
| Other assets | 5 | 4 | 5 | 6 | 6 | |
| Total assets | 453 | 466 | 574 | 833 | 1,114 | |
| Accounts payable | 21 | 23 | 23 | 27 | 11 | |
| Accrued expenses and other current liabilities | 38 | 38 | 50 | 47 | 76 | |
| Deferred revenue | 10 | 115,000 | 148,000 | 2 | 3 | |
| Operating lease liabilities | 8 | 8 | 7 | 6 | 2 | |
| Royalty monetization liabilities | 40 | 34 | — | — | — | |
| Total current liabilities | 118 | 103 | 130 | 130 | 130 | |
| Deferred revenue | 19 | — | — | — | — | |
| Operating lease liabilities | 65 | 74 | 82 | 89 | 85 | |
| Royalty monetization liabilities | 147 | 25 | — | — | — | |
| Other liabilities | 638,000 | 4 | 6 | 9 | 745,000 | |
| Total liabilities | 350 | 206 | 262 | 317 | 350 | |
| Commitments and contingencies (Note 8) | — | — | — | — | — | |
| Preferred stock; $0.0001 par value; 10,000 shares authorized, no shares issued and outstanding at December 31, 2025 and 2024 | — | — | — | — | — | |
| Common stock; $0.0001 par value; 100,000 shares authorized at December 31, 2025 and 2024; 50,892 and 49,549 shares issued and outstanding at December 31, 2025 and 2024, respectively | 5,000 | 5,000 | 4,000 | 4,000 | 4,000 | |
| Additional paid-in capital | 1,229 | 1,193 | 1,021 | 973 | 928 | |
| Accumulated other comprehensive loss | −687,000 | −741,000 | −4 | −15 | −3 | |
| Accumulated deficit | −1,130 | −932 | −705 | −442 | −161 | |
| Total stockholders equity | 103 | 260 | 312 | 516 | 764 | |
| Total liabilities and stockholders equity | 453 | 466 | 574 | 833 | 1,114 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −194 | −227 | −263 | −280 | 128 | |
| Stock-based compensation expense | 35 | 38 | 40 | 41 | 39 | |
| Depreciation and amortization | 16 | 16 | 17 | 13 | 10 | |
| Net accretion of discounts on marketable debt securities | −5 | −4 | 687,000 | 5 | 6 | |
| Net realized gain on investments | −62,000 | −7 | −2 | 79,000 | −5 | |
| Impairment of long-lived assets | — | 2 | — | — | — | |
| Non-cash interest expense | 13 | 6 | −414,000 | 137,000 | 5 | |
| Other non-cash adjustments | 597,000 | 1 | 319,000 | 231,000 | −281,000 | |
| Accounts receivable | −8 | 10 | 4 | 5 | 14 | |
| Prepaid expenses | −3 | 5 | −620,000 | 5 | −8 | |
| Other current assets | 658,000 | 7 | −11 | 247,000 | −7 | |
| Operating lease right-of-use assets | 7 | 6 | 6 | 4 | 5 | |
| Other assets | −613,000 | 807,000 | 2 | 31,000 | −2 | |
| Accounts payable | −2 | −292,000 | −3 | 19 | −2 | |
| Accrued expenses and other current liabilities | 229,000 | −12 | 2 | −26 | 30 | |
| Deferred revenue | 29 | −33,000 | −2 | −1 | −899,000 | |
| Operating lease liabilities | −9 | −8 | −7 | −544,000 | 12 | |
| Other liabilities | −3 | −3 | −3 | 8 | 289,000 | |
| Net cash used in operating activities | −124 | −173 | −218 | −207 | 219 | |
| Purchases of marketable debt securities | −333 | −190 | −87 | −185 | −498 | |
| Maturities of marketable debt securities | 319 | 290 | 285 | 203 | 170 | |
| Sales of equity securities | 62,000 | 6 | 2 | 524,000 | 6 | |
| Purchases of property and equipment | −2 | −2 | −10 | −31 | −84 | |
| Net cash provided by (used in) investing activities | −16 | 103 | 191 | −12 | −407 | |
| Proceeds from exercise of stock options | 300,000 | 2 | 2 | 3 | 4 | |
| Taxes paid related to net settlement of stock-based awards | −633,000 | −910,000 | −419,000 | −284,000 | −2,000 | |
| Proceeds from issuance of common stock under employee stock purchase plan | 1 | 1 | 2 | 2 | 2 | |
| Proceeds from public offering of common stock and pre-funded warrants, net of issuance costs | — | 131 | — | — | — | |
| Expenses related to at-the-market offering programs | −357,000 | −323,000 | — | — | — | |
| Proceeds from issuance of royalty bond and warrants, net of transaction costs | 144 | — | — | — | — | |
| Repayments under royalty monetization liabilities, net of interest | −28 | −40 | — | — | — | |
| Net cash provided by financing activities | 117 | 93 | −35 | −29 | 195 | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | −23 | 23 | −62 | −248 | 7 | |
| Cash paid (received) for income taxes | 285,000 | −72,000 | −142,000 | 12 | 6 | |
| Cash paid for interest under royalty monetization liabilities | 32 | 7 | — | — | — | |
| Purchases of property and equipment in accounts payable and accrued expenses and other current liabilities | 889,000 | 339,000 | — | — | 558,000 | |
| Deferred equity offering costs in accounts payable and accrued expenses and other current liabilities | 153,000 | 222,000 | — | — | — | |
| Deferred equity offering costs reclassified | 499,000 | 628,000 | — | — | — |