RegenXBio Inc. (NASDAQ:RGNX) is going public on Thursday September 17th. Here’s what you need you know about the biotech company’s upcoming IPO. (Source: The Securities and Exchange Commission, last accessed September 9, 2015.)
Who is RegenXBio?
RegenXBio is a leading biotech company focused on the development, commercialization, and licensing of recombinant adeno-associated virus (AAV) gene therapy. The company’s proprietary AAV gene delivery platform (NAV Technology Platform) consists of exclusive rights to over 100 novel AAV vectors.
Currently, RegenXBio’s NAV Technology Platform is being applied in the development of 23 product candidates for a variety of diseases, including five internally developed product candidates and eighteen partnered product candidates developed by its NAV Technology Licenses.
The company’s most advanced internally developed candidates include programs for the treatment of two severe and rare genetic diseases: homozygous familial hypercholesterolemia (HoFH) and Mucopolysaccharidosis Type I (MPS I). These programs are expected to enter Phase I/II clinical trials in the first half of 2016.
What is RegenXBio’s Revenue?
RegenXBio’s total revenue for years 2013 and 2014 were $6.09 million and $6.12 million, respectively. Note that the company has not generated any revenue from sales of approved products or drug therapies. The revenue being generated right now comes from three sources: license revenue, grant revenue, and reagent sales.
The company mentions in the filing that “if we fail to complete the development of our product candidates in a timely manner, or fail to obtain their regulatory approval, our ability to generate future revenue will be compromised.”
What is RegenXBio’s IPO Price?
RegenXBio expects its units to be priced between $17.00 and $19.00 apiece.
What is RegenXBio’s Stock Symbol?
RegenXBio plans to list its shares on the NASDAQ Global Market under the ticker symbol “RGNX.”
How Much Money Will RegenXBio’s IPO Raise?
The company plans to issue 5.56 million shares. At between $17.00 and $19.00 apiece, the IPO would raise $100.1 million at midpoint.
How Would RegenXBio Use the Money?
RegenXBio intends to use the proceeds from this offering mainly to fund the research and development of its product candidates. The remainder of the offering would be used for working capital and other general corporate purposes.
What is RegenXBio’s IPO Date?
The IPO date is set to be Thursday September 17, 2015.