Regenxbio (RGNX) Misses Q1 EPS by 21c, Revenues Miss

Regenxbio (NASDAQ: RGNX) reported Q1 EPS of ($1.08), $0.21 worse than the analyst estimate of ($0.87). Revenue for the quarter came in at $17.64 million versus the consensus estimate of $18.45 million.

"Our overall focus at REGENXBIO during the COVID-19 pandemic is on the health and safety of our people and our communities, as well as the important work that we need to continue in order to help patients," said Kenneth T. Mills, President and Chief Executive Officer of REGENXBIO. "We recently reported additional positive data from our RGX-314 Phase I/IIa wet AMD trial which demonstrated long-term, sustained clinical outcomes in patients after a one-time administration of RGX-314 gene therapy. We look forward to initiating a pivotal program for the subretinal delivery of RGX-314 for wet AMD as well as additional studies using the suprachoroidal delivery approach in both wet AMD and diabetic retinopathy in 2020. We also anticipate providing updates throughout 2020 from our other programs, including the Phase I/II trials of RGX-121 for the treatment of MPS II and RGX-501 for the treatment of HoFH."

Mr. Mills added: "We continue to track the positive progress of Novartis' Zolgensma which uses the NAV AAV9 vector for the treatment of pediatric patients with spinal muscular atrophy (SMA). We are encouraged by the recent regulatory updates from Japan and Europe, and we look forward to continued sales growth for Zolgensma. After more than a decade of steadfast effort and focus, we remain dedicated and committed to improving lives through the curative potential of gene therapy."

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

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