Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 268

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1B
Chunk 268
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0 million and zero, respectively, in cumulative catch-up adjustments for changes in the probability of achievement of development milestones.Accounts Receivable, Contract Assets and the Allowance for Credit LossesAccounts receivable, net consisted of the following (in thousands): 

        As of December 31,

        2024

        2023

        Current accounts receivable:

        Billed to customers
         
        $
        65

        $
        265

        Unbilled Zolgensma royalties

        20,106

        24,128

        Due from Abeona, net of present value discount

        —

        4,587

        Other unbilled

        302

        397

        Allowance for credit losses

        —

        (4,587
        )

        Current accounts receivable, net

        20,473

        24,790

        Non-current accounts receivable:

        Other unbilled

        474

        701

        Non-current accounts receivable, net

        474

        701

        Total accounts receivable, net
         
        $
        20,947

        $
        25,491

115

The following table presents the changes in the allowance for credit losses related to accounts receivable and contract assets for the years ended December 31, 2024 and 2023 (in thousands): 

        Allowance for Credit Losses

        Accounts Receivable

        Contract Assets

        Balance at December 31, 2022
         
        $
        4,152

        $
        —

        Changes in present value discount of receivables

        435

        —

        Balance at December 31, 2023

        4,587

        —

        Changes in present value discount of receivables

        413

        —

        Credit recoveries

        (5,000
        )

        —

        Balance at December 31, 2024
         
        $
        —

        $
        —

       The Company’s allowance for credit losses during the years ended December 31, 2024, 2023 and 2022 was related solely to accounts receivable from Abeona Therapeutics Inc. (Abeona). Please refer to the section below, "Settlement Agreement with Abeona Therapeutics", for further information regarding amounts due from Abeona and the associated allowance for credit losses. Zolgensma License with Nov