Overview
Biotechnology company's Q1 revenue dropped sharply due to lower license payments and royalty declines
Company posted a Q1 net loss, reversing a profit in the prior-year period
Outlook
Company expects cash balance to fund operations into early 2027
Result Drivers
REVENUE DECLINE - Co attributed lower Q1 revenue to absence of prior-year $70 mln upfront license payment and $12.2 mln drop in Zolgensma royalty revenue after patent expiration
HIGHER R&D COSTS - Increased clinical trial expenses for RGX-202 and personnel-related costs drove up research and development expenses
Company press release: ID:nPn1rTLjMa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$1.72
Q1 Net Income
-$90.05 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Regenxbio Inc is $27.00, about 168.9% above its May 13 closing price of $10.04
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
