REGENXBIO Inc (Nasdaq: RGNX), clinical-stage biotechnology company, announced its financial results for 2019 on Wednesday.

The company reported revenues of USD35.2m in 2019 compared to USD218.5m in 2018.

The firm posted research and development expenses at USD124.2m in 2019 compared to USD83.9m in 2018.

Net loss was USD94.7m, or USD2.58 basic and diluted net loss per share, for the year ended 31 December 2019, compared to net income of USD99.9m, or USD2.99 basic and USD2.73 diluted net income per share, for the year ended 31 December 2018.

'In 2020, we are broadening our internal gene therapy pipeline using our proprietary NAV Technology Platform, and advancing key programs including RGX-314 for the treatment of retinal diseases,' said Kenneth T Mills, president and chief executive officer of REGENXBIO. 'As we drive the RGX-314 program forward with new trials in wet AMD and diabetic retinopathy planned for later this year, we are also advancing our RGX-121 program in MPS II based on encouraging data from the first cohort of patients. We are pleased with the advancement of the RGX-111 and RGX-501 programs, and look forward to submitting an IND for RGX-181 and providing updates for our research programs in HAE and neurodegenerative diseases later this year.'