Regenxbio Q1 Loss Widens to $90M as RGX-202 Trial Hits 93% Endpoint
Regenxbio posted a Q1 net loss of $90.1 million, or $1.72 per share, on revenue of $6.4 million, missing expectations by over $19 million and down from $89 million a year earlier. Its AFFINITY DUCHENNE Phase III trial of RGX-202 achieved >10% microdystrophin expression in 93% of participants at Week 12.
1. Q1 Financial Results
Regenxbio reported a net loss of $90.1 million, or $1.72 per share, in Q1 2026 on revenue of $6.4 million, down from $89 million a year earlier. The decline reflected the absence of a $70 million upfront license payment and a $12.2 million drop in ZOLGENSMA royalty revenue, while R&D and G&A expenses rose to $57.3 million and $21.3 million, respectively.
2. AFFINITY DUCHENNE Phase III Results
Topline data from the AFFINITY DUCHENNE trial of RGX-202 showed 93% of participants achieved more than 10% microdystrophin expression at Week 12, with a statistically significant correlation to interim functional improvement. The therapy was generally well tolerated, although cases of subacute myocarditis and asymptomatic liver injury were reported and managed without lasting effects.
3. Liquidity and Outlook
Regenxbio ended the quarter with $150.5 million in cash, cash equivalents and marketable securities, down from $240.9 million at year-end, providing a runway into early 2027. A current ratio of approximately 2.62, based on $186.5 million in current assets and $71.1 million in current liabilities, suggests the company can cover near-term obligations.