REGENXBIO Inc. Files Q2 2024 10-Q Report

TL;DR

REGENXBIO Q2 10-Q filed. Financials and biz updates out.

AI Summary

REGENXBIO Inc. filed its 10-Q for the period ending June 30, 2024. The company's fiscal year ends on December 31st. Key financial data and business activities for the second quarter are detailed in this report.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational updates for REGENXBIO Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a biotechnology company, REGENXBIO faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Players & Entities

• REGENXBIO Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240801 (date) — Filing date of the report
• AbbVie (company) — Mentioned in relation to a collaboration and license agreement
• Abeona Therapeutics Incorporation (company) — Mentioned in relation to a November 2022 license agreement and contract termination

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share RGNX The Nasdaq Global Se

Filing Documents

• rgnx-20240630.htm (10-Q) — 2103KB
• rgnx-ex10_1.htm (EX-10.1) — 358KB
• rgnx-ex10_2.htm (EX-10.2) — 145KB
• rgnx-ex31_1.htm (EX-31.1) — 12KB
• rgnx-ex31_2.htm (EX-31.2) — 12KB
• rgnx-ex32_1.htm (EX-32.1) — 11KB
• img183429381_0.jpg (GRAPHIC) — 6KB
• 0000950170-24-089320.txt ( ) — 10025KB
• rgnx-20240630.xsd (EX-101.SCH) — 1351KB
• rgnx-20240630_htm.xml (XML) — 1900KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 5 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

Signatures

Signatures 38 Table of Contents INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "anticipate," "assume," "believe," "continue," "could," "design," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "position," "potential," "predict," "project," "seek," "should," "will," "would" or variations of such words or by similar expressions. We have based these forward-looking statements on our current expectations, estimates and assumptions and analyses in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, uncertainties, assumptions and other important factors, including, but not limited to: our ability to establish and maintain development partnerships, including our collaboration with AbbVie to develop and commercialize ABBV-RGX-314; our ability to obtain and maintain regulatory approval of our product candidates and the labeling for any approved products; the timing of enrollment, commencement, completion and the success of our AAVIATE , AFFINITY BEYOND , AFFINITY DUCHENNE , ALTITUDE , ASCENT, ATMOSPHERE and CAMPSIITE clinical trials; the timing of commencement and completion and the success of preclinical studies conducted by us and our development partners; the timely development and launch of new products; the scope, progress, expansion and cos

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. REGENXBIO INC. CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except per share data) June 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 57,765 $ 34,522 Marketable securities 232,592 240,736 Accounts receivable, net 22,809 24,790 Prepaid expenses 10,021 14,520 Other current assets 23,496 20,403 Total current assets 346,683 334,971 Marketable securities 36,943 38,871 Accounts receivable 464 701 Property and equipment, net 123,969 132,103 Operating lease right-of-use assets 56,344 60,487 Restricted cash 2,030 2,030 Other assets 2,946 4,807 Total assets $ 569,379 $ 573,970 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 16,362 $ 22,786 Accrued expenses and other current liabilities 42,488 49,703 Deferred revenue 21 148 Operating lease liabilities 7,302 7,068 Liability related to sale of future royalties 32,100 50,567 Total current liabilities 98,273 130,272 Operating lease liabilities 78,234 82,222 Liability related to sale of future royalties 41,079 43,485 Other liabilities 3,526 6,249 Total liabilities 221,112 262,228 Stockholders' equity Preferred stock; $ 0.0001 par value; 10,000 shares authorized, no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock; $ 0.0001 par value; 100,000 shares authorized at June 30, 2024 and December 31, 2023; 49,317 and 44,046 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 5 4 Additional paid-in capital 1,171,894 1,021,214 Accumulated other comprehensive loss ( 2,266 ) ( 4,429 ) Accumulated deficit ( 821,366 ) ( 705,047 ) Total stockholders' equity 348,267 311,742 Total liabilities and stockholders' equity $ 569,379 $ 573,970 The accompanying note

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View this 10-Q filing on SEC EDGAR