Regenxbio (RGNX) Misses Q3 EPS by 12c, Revenues Miss

Regenxbio (NASDAQ: RGNX) reported Q3 EPS of ($0.56), $0.12 worse than the analyst estimate of ($0.44). Revenue for the quarter came in at $5.31 million versus the consensus estimate of $20 million.

"We are pleased to have recently treated the first subject in the Phase I/II study of RGX-121 from our neurodegenerative disease franchise and to have presented a continuing positive profile for our potential one-time treatment of RGX-314 for wet AMD, demonstrating sustained protein expression levels at six months. Furthermore, a major milestone was recently achieved through Novartis' announcement of the first worldwide marketing applications filed for a REGENXBIO NAV gene therapy product candidate," said Kenneth T. Mills, President and Chief Executive Officer of REGENXBIO. "The adoption and application of NAV Technology continues to expand. As we near the end of 2018, our work and commitment to our mission intensifies. We are looking for 2019 to be another transformative year for REGENXBIO and one that will be uniquely marked by the start of more studies for innovative treatments, moving RGX-314 into later-stages of development, and the expected approval of AVXS-101 which has the potential to become an important new treatment for SMA type 1 patients. We are proud of the ongoing efforts and contributions by REGENXBIO and our partners focused on translating the hope of gene therapy into a reality for many patients and families."

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