Revenue for the nine‑month period ended September 30 rose to $29.7 million, a 22% increase from $24.2 million in the same quarter of 2024. The figure also surpassed analysts’ consensus estimate of $24.03 million by $5.67 million, a 23% beat. The jump was largely driven by $5.9 million in development‑service revenue from the Nippon Shinyaku partnership and $144.5 million in proceeds from a royalty monetization with HCRx, in addition to a $110 million upfront payment from the same partner.
The company reported a net loss of $61.9 million, up from $59.6 million year‑over‑year. However, the loss per share narrowed to $1.20 from $1.38 expected by analysts, a $0.18 beat. The improvement was due to higher revenue offsetting increased research and development ($56.1 million) and general‑administrative ($20.3 million) expenses, and the absence of any one‑time charges that could have further widened the loss.
Cash, cash equivalents and marketable securities stood at $302 million at September 30, up from $244.9 million at the end of 2024. The inflows from partnership payments and royalty monetization provide a runway that the company estimates will support operations into early 2027, excluding future milestone or royalty payments.
Operational highlights underscored progress in the company’s pipeline. RGX‑202, a gene therapy for Duchenne muscular dystrophy, is moving toward commercial‑supply manufacturing in Q3 2025. RGX‑121, a Hunter syndrome therapy, continues to advance under the Nippon Shinyaku collaboration, while ABBV‑RGX‑314, a retinal therapy developed with AbbVie, remains on track for pivotal trials. CEO Curran Simpson said, “This partnership with Nippon Shinyaku is exciting in that it maximizes our collective strengths and enables access of two potentially transformational medicines to key markets.” Chief Medical Officer Steve Pakola added, “Today’s findings support the potential of RGX‑202 to positively change the disease course for Duchenne and meaningfully benefit patients living with this degenerative disease.”
Market reaction in pre‑market trading reflected the earnings beat and pipeline optimism. The stock rose 1.8% as investors responded to the revenue and EPS beats and the positive updates on RGX‑202 and other programs. Analysts noted the company’s ability to generate cash and maintain cost discipline, reinforcing confidence in its near‑term financial health.
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