HomeEquities ScoreHere is why Regulus Therapeutics Inc. (RGLS) stock plummeted in the after-hours...

Here is why Regulus Therapeutics Inc. (RGLS) stock plummeted in the after-hours on Tuesday?

Regulus Therapeutics Inc. (RGLS) shares plunged 24.03% in after-hours on Tuesday, October 12, 2021, and closed the daily trading at $0.57. Even in regular trading, RGLS’s stock lost 0.05%. RGLS shares have risen 46.08% over the last 12 months, and they have moved up 16.06% in the past week. Over the past three months, the stock has gained 7.90%, while over the past six months, it has declined 44.15%.

Let’s see what’s going on with the company?


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RGLS update about RGLS8429

On October 12, 2021, Regulus Therapeutics Inc. (RGLS) announced the prioritization of its promising, next-generation candidate, RGLS8429, for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD). The company is looking to submit an Investigational New Drug application (IND). After clearance from the FDA and initiating a phase 1 study in the second quarter of 2022.

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Special Achievement Award for RGLS director

On September 30, 2021, Regulus Therapeutics Inc (RGLS) announced that David Baltimore, Ph.D., a director of Regulus, is the recipient of the 2021 Lasker-Koshland Special Achievement Award in the category of Medical Science.

RGLS participation in the recent investor conference

Regulus Therapeutics Inc (RGLS) recently participated at the H.C. Wainwright 23rd Annual Global Investment Conference, which was held on September 13, 2021. The company was presented by Jay Hagan, President and Chief Executive Officer of Regulus during the event.

RGLS recent financial results

On August 10, 2021, Regulus Therapeutics Inc (RGLS) announced its financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • The company reported zero revenue in Q2 2021 and 2020.
  • General and administrative expenses were $2.5million in Q2 2021 compared to $2.3 million in Q2 2020.
  • Research and development expenses were $4.2million in Q2 2021 compared to $4.2 million in Q2 2020.
  • It suffered a net loss of $6.0 million or $0.08per share (basic and diluted) in Q2 2021 compared to a net loss of $6.9 million, or $0.23 per share (basic and diluted) in Q2 2020.
  • Regulus had $41.4 million in cash and cash equivalents on June 30, 2021.

RGLS at PKD Connect Conference

On June 25, 2021, Regulus Therapeutics Inc. (RGLS), presented additional data from the first cohort of patients in the Company’s Phase 1b clinical trial of RGLS4326 for the treatment of autosomal dominant polycystic kidney disease (ADPKD), as well as new preclinical data from relevant animal models of the disease. The company did a poster presentation of the data at the PKD Connect Conference 2021, which was held on Friday, June 25, 2021.

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Conclusion

It seems that the investors are not happy with the timeline and progress update about RGLS8429, which was provided by the company yesterday. That could be the reason behind its poor performance on Tuesday and it can further face a decline in the coming days.

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