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Mar 31, 2020
Regulus Therapeutics Q1 2020 Earnings Report
Reported financial results for the first quarter ended March 31, 2020, and provided a corporate update.
Key Takeaways
Regulus Therapeutics reported its Q1 2020 financial results, with a net loss of $5.9 million, or $0.25 per share, and cash and cash equivalents of $28.1 million. The company initiated dosing of the third and final cohort in the Phase 1 multiple ascending dose clinical study for RGLS4326.
Initiated dosing of the third and final cohort in RGLS4326 Phase 1 for ADPKD in April 2020.
Planning to initiate a Phase 1b short-term dosing study in patients with ADPKD in the second half of 2020.
Cash and cash equivalents totaled $28.1 million as of March 31, 2020.
Net loss was $5.9 million, or $0.25 per share, for the first quarter of 2020.
Regulus Therapeutics
Regulus Therapeutics
Forward Guidance
The company expects to complete the Phase 1 MAD study in mid-2020 and plans to initiate a Phase 1b study in the second half of 2020.
Positive Outlook
- Completion of the second cohort in the Phase 1 multiple ascending dose clinical study for RGLS4326.
- Initiation of dosing for the third and final cohort in the Phase 1 MAD clinical study for RGLS4326.
- Preparations for the Phase 1b study in patients with autosomal dominant polycystic kidney disease are well underway.
- Expectation to complete the Phase 1 MAD study in mid-2020 with topline results available thereafter.
- Planning to initiate a Phase 1b short-term dosing study in patients with ADPKD in the second half of 2020.
Challenges Ahead
- The COVID-19 pandemic is expected to adversely affect business operations and financial results.
- The extent of the impact on Regulus’ ability to achieve its preclinical and clinical development objectives is uncertain.
- The value of and market for its common stock will depend on future developments that are highly uncertain.
- Travel restrictions, quarantines, social distancing, and business closure requirements in the U.S. and in other countries may impact the business.
- The effectiveness of actions taken globally to contain and treat the disease is uncertain.