Regenxbio (NASDAQ: RGNX) reported Q2 EPS of $0.30, $0.93 worse than the analyst estimate of $1.23. Revenue for the quarter came in at $40.03 million versus the consensus estimate of $100 million.

"We are very encouraged by the positive interim data for RGX-314 and the potential of NAV gene therapy as a one-time treatment for wet AMD, particularly as this is a non-rare patient population with a significant treatment burden," said Kenneth T. Mills, President and Chief Executive Officer of REGENXBIO. "REGENXBIO looks forward to applying what we are learning from this trial to expand the RGX-314 clinical program into a Phase II trial and bring this novel therapy to patients as quickly as possible."

• Interim Phase I Trial Update for RGX-314 for the Treatment of Wet Age-Related Macular Degeneration
  • Well-tolerated at all doses
  • Dose-dependent protein expression levels
  • Dose-dependent reduction in anti-VEGF injections, along with maintenance of retinal thickness and vision
  • 50% of subjects treated in Cohort 3 are free of anti-VEGF injections at six months
  • Company plans to proceed to Phase II clinical trial as soon as possible
  • Current clinical trial expanded to include new Cohort 4 dose and the first subject has been dosed
  • Additional data expected to be presented at AAO in October 2018

Based on its current operating plan, REGENXBIO expects that its balance in cash, cash equivalents and marketable securities will be between $250 million and $260 million as of December 31, 2018, which will be used to support the continued development of its lead product candidate programs.

For earnings history and earnings-related data on Regenxbio (RGNX) click here.