Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 53

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 53
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 Novartis License (in thousands): 

        Years Ended December 31,

        2024

        2023

        2022

        Zolgensma royalties
         
        $
        81,505

        $
        85,319

        $
        101,919

        Other license revenue

        28

        —

        31

        Total license and royalty revenue
         
        $
        81,533

        $
        85,319

        $
        101,950

        Interest income from licensing
         
        $
        123

        $
        29

        $
        92

       As of December 31, 2024 and 2023, the Company had recorded total accounts receivable of $20.4 million and $24.3 million, respectively, from Novartis Gene Therapies under the Novartis License, which consisted primarily of Zolgensma royalties receivable. The Zolgensma royalties receivable recorded as of December 31, 2024 included $14.4 million expected to be paid to HCR in accordance with the Royalty Purchase Agreement discussed in Note 7.

116

Settlement Agreement with Abeona TherapeuticsIn November 2021, the Company entered into a settlement agreement and mutual release with Abeona (the Settlement Agreement) related to claims associated with a license agreement between the parties which was terminated in May 2020. The Settlement Agreement resolved all arbitration and legal proceedings and mutually released each party from any and all claims under the terminated license agreement. Pursuant to the Settlement Agreement, Abeona paid the Company a total of $30.0 million as follows: (i) $20.0 million paid in November 2021, (ii) $5.0 million paid in November 2022, and (iii) $5.0 million paid in November 2024. As of December 31, 2024, all amounts due from Abeona under the Settlement Agreement had been paid in full and no further amounts were due to the Company from Abeona.As of December 31, 2023, the Company had recorded accounts receivable of $4.6 million associated with the remaining amounts due from Abeona under the Settlement Agreement. The receivable of $4.6 million as of December 31, 2023 consisted of the $5.0 million payment due by November 2024, net of discount to present value