Regenxbio Inc
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Health Care : Biotechnology | Small Cap Blend
Company profile

REGENXBIO Inc. is a clinical-stage biotechnology company, which is focused on providing curative potential of gene therapy. Its investigational gene therapies are designed to deliver functional genes to address genetic defects in cells. The Company’s investigational AAV Therapeutics include RGX-314, RGX-202, RGX-121, RGX-111 and RGX-181 and RGX-381. RGX-314 is meant for the treatment of large patient populations impacted by wet age-related macular degeneration (wet AMD), diabetic retinopathy and other chronic retinal diseases. RGX-202 is developed to treat Duchenne muscular dystrophy, one of the common fatal genetic disorders affecting children. RGX-121, RGX-111 and RGX-181 are developed to treat Mucopolysaccharidosis type II, Mucopolysaccharidosis type I, and late infantile neuronal ceroid lipofuscinosis type II (CLN2 disease), all of which are progressive, neurodegenerative lysosomal storage disorders. RGX-381 is developed to treat the ocular manifestations of CLN2 disease.

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McCormick stock rises after profit beats expectations and sales rise to a record, with price increases helping offset volume declines

6:47 am ET March 28, 2023 (MarketWatch)

Shares of McCormick & Co. Inc. (MKC) rose 1.3% in premarket trading Tuesday, after the flavor and spices company reported fiscal first-quarter profit that declined but beat expectations, as sales rose to a record amid strength in the flavor business and as pricing increases offset a decline in volume. Net income for the quarter to Feb. 28 fell to $139.1 million, or 52 cents a share, from $154.9 million, or 57 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 59 cents beat the FactSet consensus of 50 cents. Sales grew 2.8% to $1.57 billion, above the FactSet consensus of $1.55 billion, as consumer segment sales fell 1.8% to $909.5 million and flavor solutions sales jumped 10.0% to $656.0 million. When excluding the impact of currency fluctuations, sales growth reflected an 11% increase in pricing, to offset a 2% decline in volume, which resulted from the divesting of the Kitchen Basics business, lower sales to China given COVID-related disruptions and from the exit of the consumer business in Russia. Gross margin contracted to 36.0% from 36.8%, as higher cost inflation and other supply chain costs were partially offset by higher prices and cost savings. For fiscal 2023, the company expects adjusted EPS of $2.56 to $2.61, which surrounds the FactSet consensus of $2.57. The stock has dropped 11.0% over the past three months through Monday, while the S&P 500 has gained 5.1%.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


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March 28, 2023 06:47 ET (10:47 GMT)

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