REGENXBIO Stock Plummets 7% Within Week: It Announces Eye Care Collaboration With AbbVie

Today, the price is significant plummets. Within five days, REGENXBIO (RGNX) stock lost 7% amid AbbVie and Regenxbio Inc entered a partnership to develop and commercialize RGX-314. Last Friday, REGENXBIO’s stock was traded at $35.35, and until the day, it is continuously plunging. Currently, it is open at $33.09. RGX-314 is currently in a key test for treating wet age-related macular degeneration (AMD). This eye disease causes blurred vision or a blind spot in the field of view. The trial is testing RGX-314 delivered under the retina.
REGENXBIO Stock Plummets 7% Within Week: It Announces Eye Care Collaboration With AbbVieUnder the collaboration, Regenxbio will be responsible for completing the ongoing RGX-314 research. Under the terms of the agreement, AbbVie will pay REGENXBIO a $370 million upfront payment with the potential for REGENXBIO to receive up to $1.38 billion in additional development, regulatory and commercial milestones. According to them, the two companies will share the costs of additional trials of RGX-314. AbbVie will lead the clinical development and commercialization of RGX-314 global.

April Sanchez

Business and Tech Reporter