Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 37

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 37
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 New York Sublease. The impairment losses were allocated to the various assets within the long-lived asset group based on their 

107

relative carrying values and consisted of $1.4 million recorded to the right-of-use assets and $0.7 million recorded to property and equipment. No material impairment losses on long-lived assets were recorded during the years ended December 31, 2023 and 2022.As of December 31, 2024, the Company had recorded right-of-use assets of $0.6 million and lease liabilities of $2.2 million related to the New York Lease.Other LeasesIn October 2022, the Company entered into an operating lease for office space in Washington, D.C. (the DC Lease). The lease term commenced in October 2022 and expires in October 2027. The Company has an option to extend the term of the lease for five additional years. As of December 31, 2024, the Company’s extension option under the DC Lease was excluded from the measurement of the right-of-use assets and lease liabilities as it was not reasonably certain of exercise. The Company recorded the right-of-use assets and lease liabilities related to the DC Lease upon its commencement in October 2022. As of December 31, 2024 the Company had recorded right-of-use assets of $4.0 million and lease liabilities of $4.0 million related to the DC Lease.The Company leases additional office, laboratory and warehousing space, as well as laboratory and other equipment, under operating leases with various expiration dates through 2029, including leases which have been executed but have not yet commenced.Operating Lease InformationAll of the Company’s leases are classified as operating leases. The following table summarizes the Company’s lease costs and supplemental cash flow information related to its operating leases (in thousands): 

        Years Ended December 31,

        2024

        2023

        2022

        Operating lease cost
         
        $
        11,168

        $
        11,107

        $
        9,570

        Variable lease cost

        2,725

        2,263

        1,727

        Sublease income

        (319
        )

        —

        —

        Total lease cost
         
        $
        13,574

        $
        13,370

        $
        11,297

        Cash paid for amounts included in operating lease liabilities
         
        $
        12