Regenxbio Swings to Q2 Profit on $100M AbbVie Milestone, Extends Cash Runway to Q4 2027
RGNX has more than doubled off its 52-week low of $5.455.
Summary
Regenxbio posted Q2 net income of $22.7M, reversing a prior-year loss, driven by a $100M milestone payment from AbbVie for the first patient dosed in the NAAVIGATE diabetic retinopathy trial. Revenue hit $103.8M, though Zolgensma royalties declined due to U.S. patent expiration. The company raised over $200M in July, extending its cash runway into Q4 2027 — a critical buffer given prior going concern doubts. Pipeline catalysts are stacking up: a BLA submission for Duchenne gene therapy RGX-202 is on track for Q3 2026 with potential approval in 2H 2027, and pivotal wet AMD data is due in Q4 2026. The financial position and near-term regulatory milestones materially de-risk the story.
At the time of this announcement, RGNX was trading at $10.99 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $685.8M. The 52-week trading range was $5.46 to $16.19. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.