Eye Catching Stock: Regulus Therapeutics Inc. (NASDAQ:RGLS)

Regulus Therapeutics Inc. (NASDAQ:RGLS) changed 0.25% to recent value of $0.61. The stock transacted 252887 shares during most recent day however it has an average volume of 200.47K shares. It spotted trading -84.99% off 52-week high price. On the other end, the stock has been noted 21.51% away from the low price over the last 52-weeks.

On Aug. 8, 2019,  Regulus Therapeutics Inc. (NASDAQ:RGLS) a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs (the Company or Regulus),declared financial results for the second quarter ended June 30, 2019 and provided a summary of recent events. 

With the completed financing and restructuring of our term loan, we believe we are in a good position to work expeditiously to address the clear requirements outlined by FDA to reinitiate the MAD clinical study for RGLS4326, said Jay Hagan, CEO of Regulus. We will also be evaluating potential options to initiate single dose studies in order to further characterize the molecule.

Second Quarter 2019 Corporate Highlights and Recent Updates

•           Private Financing: In May 2019, the Company closed the first tranche of its $41.8 million private placement of equity (the Private Placement). The Company received net proceeds of approximately $15.7 million from the first tranche, after deducting placement agent fees and other offering expenses. Subject to the Company’s public announcement on or before December 31, 2019 of its plan to recommence the Phase 1 multiple ascending dose (MAD) clinical trial for RGLS4326 based upon correspondence from the United States Food and Drug Administration (FDA), the investors who purchased securities in the first tranche of the Private Placement have agreed to purchase shares of non-voting convertible preferred stock and accompanying warrants to purchase shares of common stock in a second closing (the Milestone Closing). If the Milestone Closing occurs, the gross proceeds to the Company from that closing will be approximately $25.1 million. The Company expects to use the proceeds from the Private Placement primarily to advance RGLS4326 for the treatment of autosomal dominant polycystic kidney disease (ADPKD), to advance select programs from its pipeline of microRNA therapies and for general corporate purposes. Excluding any potential proceeds from the Milestone Closing, the Company believes it has sufficient cash to fund operations into mid-2020.

 Its earnings per share (EPS) expected to touch remained 1.80% for this year while earning per share for the next 5-years is expected to reach at 39.60%.

 The company has 20.66M of outstanding shares and 18.34M shares were floated in the market. According to the most recent quarter its current ratio was 0.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -32.07% from the mean of 20 days, -41.97% from mean of 50 days SMA and performed -49.14% from mean of 200 days price. Company’s performance for the week was 1.16%, -53.02% for month and YTD performance remained -34.38%.

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