Regenxbio stock unchanged after hours despite bottom and top line beats
Mar. 01, 2022 5:19 PM ETREGENXBIO Inc. (RGNX)ABBVBy: Jonathan Block, SA News Editor2 Comments
- Shares of Regenxbio (NASDAQ:RGNX) are unchanged in after-hours trading despite the company's Q4 2021 earnings results that beat on both the top and bottom lines.
- The company swung to Q4 net income of $294M compared to a loss of $46.2M in the year ago period.
- Revenue of ~$398.7M in the quarter was a ~1759% increase compared to Q4 2021. Regenxbio benefitted from realizing revenue of $370M in the quarter through an eye care collaboration with AbbVie (NYSE:ABBV).
- The company said that the $849.3M in cash it had at the end of the year is enough to fund it through 2025.
- Read why Seeking Alpha contributor Avisol Capital Partners considers Regenxbio (RGNX) a buy.