REGENXBIO INC Reports Q2 FY2023 Earnings with 38.8% Decrease in Total Revenue
August 13, 2023
🌥️Earnings Overview
On August 2 2023, REGENXBIO INC ($NASDAQ:RGNX) reported its financial results for the second quarter of FY2023, with total revenue of USD 20.0 million, representing a 38.8% decrease year-over-year. For the quarter, the company posted a net loss of USD 72.1 million, widening from the loss of -68.2 million in the same quarter of the prior year.
Analysis
GoodWhale has conducted an analysis of the fundamentals of REGENXBIO INC to determine the level of risk in terms of financial and business aspects. The results have been categorized as high risk, which indicates that potential investors should proceed with caution when considering an investment in this company. GoodWhale has identified three risk warnings in the balance sheet, cashflow statement, and non-financial areas that are likely to be of concern. These warnings should be taken into consideration before deciding whether or not REGENXBIO INC is a suitable investment for an individual or institution. Become a registered user with GoodWhale to access the full analysis and all potential risk warnings associated with REGENXBIO INC. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Regenxbio Inc. More…
| Total Revenues | Net Income | Net Margin |
| 96.97 | -274.16 | -290.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Regenxbio Inc. More…
| Operations | Investing | Financing |
| -218.07 | 198.06 | -32.54 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Regenxbio Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 682.46 | 276.6 | 9.3 |
Key Ratios Snapshot
Some of the financial key ratios for Regenxbio Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.9% | 22.0% | -268.2% |
| FCF Margin | ROE | ROA |
| -243.4% | -37.3% | -23.8% |
Peers
The company’s lead product candidate, RGX-111, is in clinical trials for the treatment of homozygous familial dysautonomia, a rare genetic disease. Regenxbio’s competitors include Adverum Biotechnologies Inc, Novartis AG, and AbbVie Inc.
– Adverum Biotechnologies Inc ($NASDAQ:ADVM)
Adverum Biotechnologies Inc is a clinical-stage biotechnology company that specializes in the development of gene therapies. The company’s market cap as of 2022 is 81.27M and its ROE is -36.78%. The company’s goal is to develop gene therapies to treat serious and rare diseases.
– Novartis AG ($NYSE:NVS)
Novartis AG is a global healthcare company that researches, develops, and markets a wide variety of health products, including over-the-counter and prescription drugs, vaccines, and consumer health products. The company has a market capitalization of 174.68 billion as of 2022 and a return on equity of 24.65%. Novartis is headquartered in Basel, Switzerland, and has operations in over 140 countries.
– AbbVie Inc ($NYSE:ABBV)
AbbVie Inc is a pharmaceutical company with a market cap of 255.35B as of 2022. The company has a Return on Equity of 66.07%. AbbVie Inc produces a variety of pharmaceutical products and focuses on research and development in order to bring new and innovative treatments to patients. The company’s products are used to treat a wide range of conditions, including cancer, HIV/AIDS, and Alzheimer’s disease. AbbVie Inc is committed to improving the lives of patients and their families by providing quality products and services.
Summary
REGENXBIO INC reported a decrease in total revenue of 38.8% for its FY2023 Q2 earnings, compared to the same period in the previous year. Net income for the quarter was a loss of -72.1 million, a marked increase from the loss of -68.2 million in the same quarter of the prior year. Investors should look closely at the company’s financials to determine if there are any opportunities for growth or if there are risks that need to be addressed. Factors like product demand, competitive environment, and capital expenditure are important variables to consider when assessing the company’s current and future prospects.
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