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Regulus Therapeutics Reports First Quarter 2020 Financial Results and Recent Updates
Initiated Third and Final Cohort of the Multiple Ascending Dose Study of RGLS4326 for the Treatment of Autosomal Dominant Polycystic Kidney Disease
LA JOLLA, Calif., May 14, 2020 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 first quarter ended March 31, 2020 and provided a corporate update.
We have completed the second cohort and have initiated the dosing for the third and final cohort in the Phase 1 multiple ascending dose (MAD) clinical study for RGLS4326 said Jay Hagan, CEO of Regulus. Additionally, preparations for the Phase 1b study in patients with autosomal dominant polycystic kidney disease (ADPKD) are well underway with plans to initiate in the second half of 2020.
Initiated Dosing of the Third and Final Cohort in RGLS4326 Phase 1 for ADPKD: In April 2020, the Company initiated dosing of the third and final cohort of the MAD clinical study of RGLS4326, a novel oligonucleotide designed to inhibit miR-17 for the treatment of ADPKD. The Company expects to complete this study in mid-2020 with topline results available thereafter. The Company is planning to initiate a Phase 1b short-term dosing study in patients with ADPKD in the second half of 2020 to evaluate RGLS4326 for safety, pharmacokinetics, and biomarkers of pharmacodynamic activity.
Cash Position: As of March 31, 2020, Regulus had $28.1 million in cash and cash equivalents.
Research and Development (R&D) Expenses: R&D expenses were $3.1 million for the three months ended March 31, 2020, compared to $6.0 million for the same period in 2019. The aggregate decrease was driven by a $1.5 million reduction in personnel and internal expenses and a $1.0 million reduction in external development expenses, both of which were primarily attributable to a reduction in costs associated with the partial clinical hold of the RGLS4326 MAD study. In December 2019, the U.S. Food and Drug Administration (FDA) lifted the partial clinical hold on the MAD study and it was recommenced in February 2020.
General and Administrative (G&A) Expenses: G&A expenses were $2.4 million for the three months ended March 31, 2020 compared to $3.5 million for the same period in 2019. These amounts reflect personnel-related and ongoing general business operating costs. The decrease is primarily attributable to continued cost reduction efforts subsequent to our corporate restructuring in the third quarter of 2018.
The following information was filed by Regulus Therapeutics Inc. (RGLS) on Thursday, May 14, 2020 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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