Indication intelligence, analysis and sector perception

Regenxbio (RGNX) license with AveXis (AVXS) on Novartis (NVS) acquisition news triggers $180 M pay-day

April 9, 2018 9:11am

RGNX had closed down -$1.10 and is UP +$7.20 or +26.47% in the pre-market - BUY

Under their 2014 license agreement related to NAV AAV9, a change in control of AVXS triggers the payment of $180M to REGENXBIO ($60 M in payments plus $120 M in potential commercial milestones

AveXis (AVXS) had expanded its partnership with RGNX on 1/8

A historical note: Goldman Sachs Group Inc. trimmed its holdings in shares of Regenxbio (RGNX) by 7.5% in Q4/17, according to its most recent disclosure with the SEC. The fund had owned 151,722 shares of the biotechnology company’s stock after selling 12,301 shares during the period. Goldman Sachs Group Inc. owned approximately 0.49% of Regenxbio worth $5,044,000 as of its most recent SEC filing. Other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in shares of Regenxbio during the fourth quarter valued at approximately $302,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Regenxbio during Q4/17 valued at approximately $333,000. Virtus Fund Advisers LLC purchased a new position in shares of Regenxbio during Q4/17 valued at approximately $407,000. Jane Street Group LLC purchased a new position in shares of Regenxbio during Q3/17 valued at approximately $476,000. Finally, SG Americas Securities LLC purchased a new position in shares of Regenxbio during Q3/17 valued at approximately $619,000. Hedge funds and other institutional investors own 69.22% of RGNX’s stock.

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