REGENXBIO Loses Royalty Revenue As Patent Expirations Cut Zolgensma Payments By $21.2 Million
A $38.0 million patent-settlement gain helped narrow the quarterly loss as spending on Duchenne trials increased.
REGENXBIO, which develops one-time gene therapies, reported third-quarter revenue of $9.2 million, down from $29.7 million a year earlier, in results released Thursday. Zolgensma royalties fell by $21.2 million, primarily because licensed U.S. patents expired in January 2026, while a patent-settlement gain helped reduce the quarterly loss.
Settlement Helps Offset The Royalty Drop
REGENXBIO's quarterly net loss narrowed to $40.7 million, or $0.62 per share, against $61.9 million, or $1.20 per share, a year earlier. Results included a $38.0 million gain from settling all patent litigation with Sarepta Therapeutics; the $39.0 million payment, less amounts payable to licensors, arrived in October.
Research and development spending reached $61.0 million, compared with $56.1 million a year earlier, primarily because of RGX-202 clinical trials for Duchenne muscular dystrophy. Administrative expenses were $20.6 million, versus $20.3 million.
Itvisma royalties contributed $2.8 million, partly cushioning the Zolgensma decline. Novartis began U.S. sales of Itvisma in the first quarter of 2026, and the therapy also has approvals in the EU, Japan and multiple Gulf countries. REGENXBIO has rights to royalties on certain net sales in jurisdictions where patents extend until 2037.
The royalties come from licensing REGENXBIO's gene-delivery platform to other developers, including Novartis. Its own pipeline focuses on retinal, neuromuscular and neurodegenerative diseases, with therapies manufactured at its Rockville, Maryland, facility. RGNX shares rose about 7% to $7.87 in Friday trading.
July Funding Extends The Runway
Cash, cash equivalents and marketable securities totaled $251.0 million at September 30, 2026, compared with $240.9 million at December 31, 2025. The September balance excludes the October Sarepta payment.
July brought a $100.0 million milestone payment from AbbVie for dosing the first patient in the diabetic-retinopathy study, plus $107.8 million in net proceeds from a completed offering of common shares and pre-funded warrants. Operating activities consumed part of that funding during the first nine months.
Management expects the September cash balance and October settlement proceeds to support operations into late fourth quarter 2027. That estimate follows current operating plans and excludes potential additional partner milestones or financing.
Retinal Results And A Duchenne Application
REGENXBIO expects results from its pivotal wet age-related macular degeneration trials with AbbVie in the fourth quarter of 2026, with global regulatory applications expected in 2027. Its diabetic-retinopathy trial continues enrolling; the company said follow-up results presented in September 2026 supported safety and efficacy through three years at the dose being studied.
For Duchenne, management expects an FDA meeting in the fourth quarter of 2026 and targets an approval application for RGX-202 in the first quarter of 2027. Potential accelerated approval remains slated for the second half of 2027. REGENXBIO is manufacturing intended commercial supply and expects to start a randomized study outside the U.S. in the first half of 2027 to support global applications.
The Hunter syndrome program, RGX-121, developed with Nippon Shinyaku, remains affected by an FDA clinical hold announced in August 2026. Spine MRI findings without symptoms in five study participants prompted the hold; REGENXBIO continues assessing additional imaging and longer-term follow-up.
Curran Simpson, REGENXBIO's president and chief executive officer, said the company is working to “prepare to launch potential first- or best-in-class gene therapies in 2027 and 2028” in its earnings statement.
The next expected clinical readout is the wet age-related macular degeneration trial data in the fourth quarter of 2026.
Sources
- 8-K Filing — REGENXBIO Inc. (RGNX) — SEC EDGAR
- Exhibit rgnx-ex99_1.htm — REGENXBIO Inc. 8-K exhibit — SEC EDGAR
- Regenxbio Q3 2026 Earnings Call Transcript — benzinga.com
- REGENXBIO Reports Third Quarter 2026 Financial Results and Operational Highlights — prnewswire.com
