REGENXBIO Inc. Announces Cash Burn Results for the Year Ended December 31, 2017; Provides Cash Burn Guidance for the Year 2018
January 04, 2018 at 04:05 pm EST
REGENXBIO Inc. announced cash burn results for the year ended December 31, 2017. The company's cash burn in 2017 was approximately $64 million, which is below the previously updated cash burn guidance range of between $75 million and $80 million, excluding the effect of REGENXBIO's underwritten public offering of common stock in March 2017, which resulted in aggregate net proceeds to REGENXBIO of approximately $81.5 million after deducting underwriting discounts and commissions and offering expenses.
The company expected full-year 2018 cash burn to be between $85 million and $95 million, which will support the continued development of its lead product candidate programs.