Regenxbio (NASDAQ:RGNX) shares faced pressure Thursday after the biotechnology company reported fourth-quarter financial results that trailed Wall Street expectations on both the top and bottom lines.
The Rockville, Maryland-based developer of gene therapies posted a net loss of $67.1 million, or $1.30 per share.
The result was significantly wider than the $1.01 per share loss projected by six analysts surveyed by Zacks Investment Research.
Quarterly revenue totaled $30.3 million, missing the $31.5 million consensus estimate.
For the full year, Regenxbio reported a total loss of $193.9 million, or $3.76 per share, on annual revenue of $170.4 million.
Despite the quarterly miss, the company highlighted its stable capital position, with a cash runway expected to fund operations into 2027 as it continues to advance its late-stage clinical pipeline, including treatments for wet AMD and Duchenne muscular dystrophy.