SCHEDULE: Redmile Group Boosts REGENXBIO Stake to 9.9%

Redmile Group, LLC and its affiliates have reported a 9.9% beneficial ownership stake in REGENXBIO Inc., totaling 5,062,477 shares.

Summary

• Redmile Group, LLC, Jeremy C. Green, and Redmile Biopharma Investments III, L.P. have filed an Amendment No. 3 to Schedule 13G regarding their beneficial ownership in REGENXBIO Inc.
• Redmile Group, LLC and Jeremy C. Green each beneficially own 5,062,477 shares of Common Stock, representing 9.9% of the outstanding class.
• Redmile Biopharma Investments III, L.P. beneficially owns 3,733,796 shares, representing 7.4% of the outstanding class.
• The reported ownership includes 4,775,717 shares directly held by Redmile Clients and 286,760 shares issuable upon exercise of pre-funded warrants, limited by a 9.99% beneficial ownership blocker.
• The percentage is calculated based on 50,388,693 shares outstanding as of June 9, 2025, plus the 286,760 exercisable warrant shares.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine disclosure of a significant ownership stake by an investment group, which can be seen as a vote of confidence. No negative operational or financial news is present, but it's not a performance report.

Positives

• A significant stake by an investment group like Redmile Group could signal confidence in REGENXBIO Inc.'s long-term prospects.
• The investment includes pre-funded warrants, indicating a strategic entry point or a way to manage capital deployment while maintaining exposure.

Negatives

• The beneficial ownership limitation (9.99%) on warrant exercise restricts the immediate conversion of all potential shares, potentially limiting the investor's flexibility or full participation in future upside from those warrants.

Risks

• The Beneficial Ownership Limitation (Blocker) prevents the exercise of warrants if it would result in beneficial ownership exceeding 9.99% of outstanding common stock, which could limit the investor's ability to fully convert their warrants.
• The value of the investment is subject to the performance of REGENXBIO Inc.'s common stock.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Redmile Group, LLC acts as the investment manager for the Redmile Clients, including Redmile Biopharma Investments III, L.P.
• Jeremy C. Green is the principal of Redmile Group, LLC.
• Redmile Group, LLC and Jeremy C. Green disclaim beneficial ownership of these shares, except to the extent of their pecuniary interest.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by an institutional investor like Redmile Group may be viewed positively, potentially signaling confidence in the company's value.

Key Dates

Keywords

REGENXBIO, Redmile Group, Jeremy C. Green, Redmile Biopharma Investments, Schedule 13G, beneficial ownership, common stock, pre-funded warrants, biotechnology, biopharma, investment, SEC filing