Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 41

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 41
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16.0%.The following table presents the changes in the liability related to the sale of future royalties under the Royalty Purchase Agreement with HCR (in thousands): 

        Liability Related to

        Sale of Future Royalties

        Balance at December 31, 2022
         
        $
        137,606

        Zolgensma royalties paid to HCR

        (49,574
        )

        Interest expense recognized

        6,020

        Balance at December 31, 2023

        94,052

        Zolgensma royalties paid to HCR

        (46,413
        )

        Interest expense recognized

        12,048

        Balance at December 31, 2024

        59,687

        Current portion of liability related to sale of future royalties

        (34,309
        )

        Liability related to sale of future royalties, non-current
         
        $
        25,378

8. Commitments and ContingenciesIn-licensed TechnologyThe Company in-licenses intellectual property from third parties for technology and know-how used in its product candidates and development programs, some of which is further sublicensed to NAV Technology Licensees and collaboration partners. In-licenses may require the Company to make future payments relating to sublicense fees, milestone fees and royalties on future sales of licensed products. Additionally, the Company may be responsible for the cost of the maintenance of the intellectual property as incurred by its licensors. Up-front fees to obtain licensed technology, as well as associated milestone fees, are recorded as research and development expenses if the technology has no alternative future use. Sublicense fees are based on a specified percentage of license fees earned by the Company as a result of sublicensing the technology to third parties and are recorded as cost of revenues. Royalties due to licensors on sales of licensed products, including sales by NAV Technology Licensees, are recorded as cost of revenues. Patent maintenance costs are recorded as general and administrative expenses.Please refer to Note 10 for information on licenses granted by the Company and collaboration agreements with third parties.The Trustees of the University of PennsylvaniaIn February 2009, the Company entered into a license agreement, which has been amended from time to time (as amended, the Penn License), with The Trustees of the University of Pennsylvania (together with the University of Pennsylvania, Penn) for exclusive, worldwide rights to certain patents owned by Penn underlying the Company’s NAV Technology Platform, as well as exclusive rights to certain data