Regenxbio Inc., a clinical-stage biotechnology company that works with gene therapy, reported a larger loss in its fourth quarter due to the increase in operating costs of clinical trials.
The Rockville, Maryland-based company reported a net loss of $19.6 million, or 74 cents per share, in the fourth quarter. That compares to a loss of $5.2 million, or 20 cents per share, in the fourth quarter of 2015.
The results beat analyst estimates by a penny.
Revenue decreased from $4.4 million to $1.7 million for its fourth quarter. The overall revenue was less than analyst expectations of $2.35 million.
The company also reiterated that it expects full-year 2017 cash burn to be between $75 million and $85 million. That money will be used to support the continued development of its lead product candidate products.
Its share closed Tuesday at $20.85, up $1.20, or 6.11 percent.
The filing can be found here.
