Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 44

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 44
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SK. The Company remains obligated to pay GSK sublicense fees and reimbursement of certain patent maintenance costs in accordance with the GSK License.Expenses incurred by the Company related to the GSK License were recorded as follows (in thousands): 

        Years Ended December 31,

        2024

        2023

        2022

        Cost of revenues:

        Royalties on net sales of Zolgensma
         
        $
        33,180

        $
        37,043

        $
        44,691

        Other cost of revenues

        337

        170

        612

        Total cost of revenues

        33,517

        37,213

        45,303

        General and administrative

        369

        476

        964

        $
        33,886

        $
        37,689

        $
        46,267

111

As of December 31, 2024, the Company had recorded $6.3 million payable under the GSK License, of which $6.2 million was included in accrued expenses and other current liabilities, and $0.1 million was included in other liabilities on the consolidated balance sheet. As of December 31, 2023, the Company had recorded $12.3 million payable under the GSK License, of which $12.2 million was included in accrued expenses and other current liabilities, and $0.1 million was included in other liabilities on the consolidated balance sheet.The Company has been notified of a potential dispute with GSK over the amount of sublicense fees paid by the Company to GSK under the GSK License. GSK claims there has been a significant underpayment by the Company as they are entitled to a sublicense payment on all amounts received by the Company from sublicensees, including royalties, and not just amounts received for GSK's sublicensed patents. The Company disagrees with GSK's interpretation of the GSK License. The Company does not believe that a loss is probable, and no reasonable range of loss is estimable, related to this matter. No liabilities related to this matter have been recorded as of December 31, 2024.Clearside BiomedicalIn August 2019, the Company entered into an option and license agreement with Clearside Biomedical, Inc. (Clearside) pursuant to which the Company was granted an option to exclusively license the worldwide rights to certain patents related to Clearside’s proprietary, in-office