Regulus (RGLS) Receives a Hold from Needham

By Austin Angelo

In a report released today, Alan Carr from Needham maintained a Hold rating on Regulus (RGLSResearch Report). The company’s shares opened today at $2, close to its 52-week low of $1.71.

Carr wrote:

“Regulus announced this morning another revision to the Sanofi collaboration agreement, in which Sanofi has been granted a WW exclusive license to RG-012. Sanofi will now assume control of the development program, including all costs going forward. Regulus will receive $7M upfront and is entitled to $40M in development milestone payments. Regulus had suspended enrollment in the Phase 2 RG-012 program in Alport Syndrome earlier this year in order to conserve cash while renegotiating terms with Sanofi. The transaction extends cash to 2Q19, but under new terms, Regulus will not be receiving any revenue from the program after Phase 2 is completed by Sanofi.”

According to, Carr is a 4-star analyst with an average return of 3.0% and a 40.2% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Regulus with a $2.67 average price target.

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Based on Regulus’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.85 million. In comparison, last year the company had a GAAP net loss of $15.83 million.

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Regulus Therapeutics, Inc. is a biopharmaceutical company, which engages in the discovery and development of drugs targeting microRNAs. Its two lead product candidates, RG-012 and RGLS4326, are in clinical development. RG-012 is an anti-miR targeting miR-21 in Phase II clinical trial for the treatment of Alport syndrome, a life-threatening kidney disease.