Company: RGNX
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038770
Chunk: 316

Company: REGENXBIO Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 7
Chunk 316
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 offset future income tax liabilities. Our federal NOL carryforwards and a portion of our state NOL carryforwards as of December 31, 2024 may be carried forward indefinitely. The remaining portion of our state NOL carryforwards and our federal and state credit carryforwards as of December 31, 2024 expire at various dates between 2029 and 2044.

We have evaluated the positive and negative evidence bearing upon the realizability of our deferred tax assets, including our NOL and credit carryforwards. Based on our history of operating losses, and other relevant facts and circumstances, we concluded that it is more likely than not that the benefit of our deferred tax assets will not be realized. Accordingly, we provided a full valuation allowance for our net deferred tax assets as of December 31, 2024 and 2023.

75

Results of Operations

Our consolidated results of operations were as follows (in thousands): 

    Years Ended December 31,

    Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    Revenues

    License and royalty revenue
     
    $
    83,328

    $
    90,242

    $
    112,724

    $
    (6,914
    )
     
    $
    (22,482
    )

    Total revenues

    83,328

    90,242

    112,724

    (6,914
    )

    (22,482
    )

    Operating Expenses

    Cost of revenues

    33,567

    37,213

    54,545

    (3,646
    )

    (17,332
    )

    Research and development

    208,522

    232,266

    242,453

    (23,744
    )

    (10,187
    )

    General and administrative

    76,619

    88,494

    85,281

    (11,875
    )

    3,213

    Credit losses (recoveries)

    (5,000
    )

    —

    —

    (5,000
    )

    —

    Impairment of long-lived assets

    2,101

    —

    —

    2,101

    —

    Other