Regenxbio down on partial hold on Novartis’ Zolgensma

REGENXBIO (NASDAQ:RGNX) slips 4% premarket on light volume in reaction to Novartis’ disclosure of an FDA-imposed partial clinical hold on studies evaluating intrathecal (into the spinal canal) administration of gene therapy Zolgensma (anasemnogene abeparvovec-xioi) in patients with spinal muscular atrophy Type 2 (SMA2) after a potential safety signal was observed in an animal study.

RGNX receives Zolgensma-related milestones and royalties from licensor AveXis which Novartis acquired for $8.7B last year.

The action does not affect the commercial product since it is administered intravenously.

SMA competitors Ionis Pharmaceuticals (NASDAQ:IONS) and Biogen (NASDAQ:BIIB) are up 4% and 3%, respectively, premarket.

https://seekingalpha.com/news/3511456-regenxbio-4-percent-premarket-partial-hold-novartis-zolgensma