Why Is Kidney Disease-Focused Regulus Therapeutics Stock Trading Higher On Tuesday?
Portfolio Pulse from Vandana Singh
Regulus Therapeutics Inc (NASDAQ:RGLS) reported positive topline results from its Phase 1b study of RGLS8429 for Autosomal Dominant Polycystic Kidney Disease, showing clear evidence of a dose response and greater biological activity at higher doses. The drug was well tolerated with no safety concerns. Additionally, the company announced an oversubscribed $100 million equity private placement at $1.60 per share, with some investors opting for non-voting Class A-6 convertible preferred stock at $160.00 per share. Following the news, RGLS shares surged 52% to $2.11 in premarket trading.
March 12, 2024 | 12:08 pm
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Regulus Therapeutics Inc reported positive Phase 1b study results for RGLS8429 and announced a $100 million equity private placement, leading to a 52% premarket stock price increase.
The positive results from the Phase 1b study of RGLS8429 indicate a significant advancement in the treatment of Autosomal Dominant Polycystic Kidney Disease, which is likely to generate investor optimism and confidence in the company's pipeline. Additionally, the successful $100 million equity private placement demonstrates strong investor interest and financial health, further boosting confidence in the company's future prospects. These factors combined are likely to have a positive short-term impact on RGLS's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100