Regulus reports Q4 EPS (40c), consensus (39c)

As of December 31, 2023, Regulus had $23.8M in cash and cash equivalents. Combined with the $100M private placement equity financing in March, the company expects its cash runway to extend into H1 2026. “2023 was a productive year for Regulus, and the growing momentum in our Phase 1b MAD study of RGLS8429 is further emphasized by our announcement of key milestones and data readouts, including the recent positive topline data from the second cohort of patients. In the topline data, we saw evidence of a mechanistic dose response at a 2 mg/kg dose level based on urinary polycystin levels and in particular their potential correlation with improvements in kidney volume and function” said CEO Jay Hagan. “Thanks to the strong data we’ve seen to date and the ongoing support of our shareholders, we completed an oversubscribed $100M private placement this month, which is expected to extend our cash runway into the first half of 2026. We look forward to a busy 2024, including sharing top-line data from our third cohort, expected in mid-2024, and the initiation of our fourth and final cohort of the MAD study next quarter.”