Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 58

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 58
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 will share equally in the net profits and losses derived from sales of ABBV-RGX-314 in the United States. The Company accounts for payments to and from AbbVie for the sharing of development and commercialization costs in accordance with its accounting policy for collaborative arrangements. Amounts owed to AbbVie for the Company’s share of development costs or commercialization costs incurred by AbbVie are recorded as research and development expense or general and administrative expense, respectively, in the period the costs are incurred. 

118

Amounts owed to the Company for AbbVie’s share of development costs or commercialization costs incurred by the Company are recorded as a reduction of research and development expense or general and administrative expense, respectively, in the period the costs are incurred. At the end of each reporting period, the Company records a net amount due to or from AbbVie as a result of the cost-sharing arrangement. As of December 31, 2024 and 2023, the Company had recorded $11.3 million and $17.7 million, respectively, due from AbbVie for net reimbursement of costs incurred for activities performed under AbbVie Collaboration Agreement, which was included in other current assets on the consolidated balance sheets.The Company recognized the following amounts under the AbbVie Collaboration Agreement (in thousands): 

        Years Ended December 31,

        2024

        2023

        2022

        Net cost reimbursement to (from) AbbVie included in:

        Research and development expense
         
        $
        (78,316
        )
         
        $
        (74,209
        )
         
        $
        (19,294
        )

        General and administrative expense

        1,866

        768

        1,531

        Total net cost reimbursement to (from) AbbVie
         
        $
        (76,450
        )
         
        $
        (73,441
        )
         
        $
        (17,763
        )
       
       Nippon Shinyaku Collaboration and License AgreementIn January 2025, the Company entered into a collaboration and license agreement with Nippon Shinyaku for the development and commercialization of RGX-121, the Company’s product candidate for the treatment of MPS II, and RGX-111, the Company's product candidate for the treatment of MPS I (the Nippon Shinyaku Collaboration Agreement). The Nippon Shinyaku Collaboration