Regulus Therapeutics Inc. - RGLS STOCK NEWS

Regulus Therapeutics Inc. (Nasdaq: RGLS) announced a private placement to institutional and accredited investors, aiming to raise approximately $15.0 million. The financing is led by the Federated Hermes Kaufmann Funds and New Enterprise Associates, with completion expected on April 13, 2023. Investors will purchase 2,615,536 shares of common stock at $0.9001 per share and 140,827 shares of non-voting Class A-5 convertible preferred stock for $90.01 per share, convertible to 100 shares of common stock. The offering is not registered under the Securities Act of 1933, thus limiting resale in the U.S. without proper registration. Regulus focuses on innovative microRNA medicines, emphasizing its commitment to drug discovery and development.

Regulus Therapeutics Inc. (Nasdaq: RGLS) has successfully completed enrollment in the first cohort of its Phase 1b multiple ascending dose (MAD) clinical trial for RGLS8429, aimed at treating Autosomal Dominant Polycystic Kidney Disease (ADPKD). This trial evaluates the drug's safety, tolerability, and pharmacokinetics in adults diagnosed with ADPKD. Topline data is anticipated by Q3 2023. The first cohort will receive RGLS8429 at a dose of 1 mg/kg every other week for three months. Following safety reviews, a second cohort will commence with a 2 mg/kg dosing regime. RGLS8429, designed to inhibit miR-17, has shown promising preclinical results, indicating improvements in kidney function and other disease metrics. ADPKD affects roughly 160,000 people in the U.S. and 4 to 7 million globally, making this research particularly significant.

Regulus Therapeutics (RGLS) provided an update on its clinical progress and financial results for 2022. The Phase 1b Multiple-Ascending Dose (MAD) study of RGLS8429 for Autosomal Dominant Polycystic Kidney Disease (ADPKD) is underway, with top-line data expected in the second half of 2023. The company reported a net loss of $28.3 million for the year, equating to $1.86 per share, on increased R&D expenses of $18.4 million. As of December 31, 2022, Regulus had $39.2 million in cash. Key leadership appointments were made to bolster clinical development operations.

Regulus Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company, announced that its President and CEO, Jay Hagan, will present at the SVB Securities Global Biopharma Conference on February 16, 2023, at 1:00 p.m. ET. The company focuses on discovering and developing innovative medicines targeting microRNAs. A replay of the presentation will be available for 30 days on the company's investor relations website. Regulus has built a strong pipeline and intellectual property portfolio in the microRNA field. Forward-looking statements in the press release highlight potential risks and uncertainties affecting the company’s drug development programs.

On January 13, 2023, Regulus Therapeutics Inc. (Nasdaq: RGLS) announced the grant of inducement stock options to Dr. Claire Padgett and Dr. Rekha Garg upon their appointments as Senior Vice Presidents. Each received an option to purchase 120,000 shares at an exercise price of $1.48 per share. The options have a 10-year term and will vest over four years, starting with 25% vesting on December 1, 2023. This grant aligns with NASDAQ Listing Rule 5635(c)(4) and is considered material to their employment acceptance. Regulus focuses on developing medicines targeting microRNAs and holds a robust intellectual property portfolio.

Regulus Therapeutics Inc. (Nasdaq: RGLS) announced the resignation of Simos Simeonidis from its Board of Directors, effective December 6, 2022. His departure is attributed to his new role as co-CEO and co-CIO at Ally Bridge Group. The Board expressed gratitude for his leadership, noting his significant contributions to the company's strategic direction. Regulus specializes in developing innovative medicines targeting microRNAs and is advancing the clinical development of RGLS8429 for treating ADPKD. The company emphasized its commitment to long-term success despite the leadership change.