RegenxbioBy Sara Gilgore – Staff Reporter, Washington Business Journal - Rockville’s RegenxBio Inc. (NASDAQ: RGNX) has raised $140 million in a public offering, four months after making significant cuts to extend its cash runway.

The clinical-stage biotech, which is developing gene therapies for retinal and neurodegenerative diseases, closed the previously announced offering Monday, a company spokesperson confirmed to the Washington Business Journal.

The RegenxBio spokesperson told me Tuesday the capital infusion will help to bolster its balance sheet and support its work to progress its gene therapy programs. That’s after the business laid off 15% of its workforce and reshaped its clinical priorities in November.
RegenxBio had issued the offering last week of more than 4.5 million shares of common stock at $23 apiece, plus another 1.5 million pre-funded warrants to buy shares. It’s also giving the underwriters 30 days to buy another 913,050 shares at the public offering price, according to documents filed with the Securities and Exchange Commission.

RegenxBio said last week it ultimately expects to net $131.2 million from the $140 million in gross proceeds, after backing out expenses, underwriting discounts and commissions. But that number could climb as high as $150.9 million if the underwriters exercise the full option to buy those additional shares, the company reported.

Click here to continue reading.