REGENXBIO Prices $100M Stock Offering at $9.00, a 3.6% Discount to Market
RGNX sits 71% above its 52-week low of $5.455.
Summary
REGENXBIO priced a $100M public offering of 10M shares at $9.00 and 1.1M pre-funded warrants at $8.9999, a modest 3.6% discount to yesterday's $9.34 close. The deal follows a preliminary prospectus filed yesterday and a free writing prospectus overnight that added the warrant component. The company has been burning cash and carrying a going concern warning, but recent positive pipeline news—including a $100M AbbVie milestone and FDA alignment on accelerated approval—likely helped secure this financing at a relatively tight discount. The offering dilutes existing shareholders by roughly 20% based on the current share count, but the price held near market, suggesting decent institutional demand. Underwriters have a 30-day option for an additional 1.67M shares. Closing is expected July 20.
At the time of this announcement, RGNX was trading at $9.34 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $579M. The 52-week trading range was $5.46 to $16.19. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: PR Newswire.