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Regulus Therapeutics Reports Third Quarter 2019 Financial Results and Recent Updates
Receipt of Final Reports from the Chronic Toxicity Studies for Submission of Complete Response to
Reinitiate the Multiple Ascending Dose Clinical Study for RGLS4326
Appointment of Cris Calsada as New Chief Financial Officer
LA JOLLA, Calif., November 12, 2019 Regulus Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs (the Company or Regulus), today reported financial results for the third quarter ended September 30, 2019 and provided a summary of recent events.
We recently received the final reports from the chronic toxicity studies in mice and non-human primates and are preparing our submission of our complete response to Food and Drug Administration (FDA) in our efforts to address the requirements to reinitiate the Multiple Ascending Dose (MAD) clinical study for RGLS4326, said Jay Hagan, CEO of Regulus. We look forward to FDAs feedback and continued productive dialogue.
Third Quarter 2019 Corporate Highlights and Recent Updates
Management Transition to New Chief Financial Officer: In July 2019, the Company appointed Cris Calsada as its new Chief Financial Officer, effective August 30, 2019. Ms. Calsadas appointment follows the resignation of the Companys previous Chief Financial Officer, Dan Chevallard, in July 2019.
New Lease Agreement Significantly Reduces Contractual Lease Obligations: In June 2019, the Company entered into an amendment of its lease (the Lease Amendment) of 24,562 square feet located at 10628 Science Center Drive Suite 100, San Diego, California 92121. Under the terms of the Lease Amendment, the expiration of the lease was accelerated from June 30, 2023 to June 30, 2019, and the lease terminated on July 1, 2019. Concurrently with the Lease Amendment, the Company entered into a new lease agreement for 8,727 square feet located at 10628 Science Center Drive, Suite 225, San Diego, California, 92121, which it uses as its new principal offices and laboratory for research and development. This relocation reduced the Companys facility size by approximately 65% and reduced its future contractual lease obligations by approximately 78%.
RGLS4326 for Autosomal Dominant Polycystic Kidney Disease (ADPKD): RGLS4326, a novel oligonucleotide designed to inhibit miR-17, is in Phase 1 clinical development for the treatment of ADPKD and currently on a partial clinical hold. In January 2019, the Company submitted a comprehensive data package for RGLS4326 to FDA that included the results from the planned 13-week interim analysis of the repeat mouse chronic toxicity study, as well as results from additional investigations, analytical testing, additional data from the previously terminated mouse chronic toxicity study, data from the completed Phase I single ascending dose (SAD) study and data from the first cohort of the Phase I MAD study, to support its plan to resume the Phase I MAD study. After review of the requested submission,
The following information was filed by Regulus Therapeutics Inc. (RGLS) on Tuesday, November 12, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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