Regenxbio Q2 revenue surges on AbbVie milestone payment

REGENXBIO

06/08/2026 12:39

Overview
Gene therapy developer's Q2 revenue surged yr/yr, driven by $100 mln AbbVie milestone payment
Company posted net income in Q2 after prior-year loss
Over $200 mln raised in July extends cash runway into Q4 2027

Outlook
Company expects cash runway to fund operations into Q4 2027
Regenxbio on track to initiate RGX-202 BLA submission in Q3 2026, with potential approval in 2H 2027
Topline data from pivotal wet AMD studies expected in Q4 2026

Result Drivers
MILESTONE PAYMENT - $100 mln AbbVie milestone payment for first patient dosed in NAAVIGATE study drove revenue increase
ROYALTY DECLINE - Decrease in Zolgensma royalty revenue due to U.S. patent expiration partially offset revenue gains
R&D EXPENSES - Lower manufacturing and clinical trial costs for sura-vec and NAVSUNLI pivotal trials reduced R&D expenses

Company press release: ID:nPn1NGk1ja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 License & Royalty Revenue
 
$103.84 mln
 
Q2 Net Income
 
$22.71 mln
 
Q2 Operating Expenses
 
$78.76 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 $22.50, about 114.3% above its August 5 closing price of $10.50

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(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.)