Regenxbio rises on partnership with Japan's Nippon Shinyaku

Regenxbio

14/01/2025 11:15

** Shares of gene therapy developer Regenxbio  RGNX.O  rise
23.6% to $8.59 premarket
    ** RGNX says it has partnered with Japan's Nippon Shinyaku
Co  4516.T  to develop and commercialize two gene therapies,
RGX-121 and RGX-111, to treat Mucopolysaccharidoses (MPS)
Diseases
    ** MPS is a group of inherited metabolic diseases where the
body lacks specific enzymes needed to break down complex sugars
    ** RGNX will receive $110 mln as upfront payment and up to
$700 mln as milestone payments from Nippon Shinyaku
    ** Deal expected to close by the end of Q1 2025
    ** All 11 brokerages rate the stock "buy" or higher; their
median PT is $38 - LSEG
    ** RGNX fell ~60 in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))