Regenxbio tumbles on deep-discounted $100 mln equity offering

AbbVie

17/07/2026 12:35

** Regenxbio's RGNX.O shares down 17.3% premarket on Fri to $9.26 after $100 mln follow-on prices
** Rockville, Maryland-based biotech announces ~11.1 mln shares, including ~1.1 mln prefunded warrants, at $9
** Offering, which represents roughly 21% of shares outstanding, priced at 19.6% discount to last close
** Morgan Stanley, JP Morgan, Leerink and Mizuho joint bookrunners 
** RGNX intends to use net offering proceeds for clinical trials, capex, working capital, development of product candidate pipeline, pay down debt, among other purposes, per the prospectus
** Last month, RGNX said U.S. FDA reversed rejection of co's rare-disease gene therapy, Navsunli, backs accelerated approval bid, and co said to receive $100 mln milestone payment from partner AbbVie ABBV.N for its eye disease drug
** Through Thurs, RGNX shares rallied 62% over the past month, leaving them down 22% YTD
** 12 of 13 brokerages rate the stock "strong buy" or "buy", 1 "hold"; median PT $22.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))