In a recent transaction, Preston Klassen, the President and Head of R&D at Regulus Therapeutics Inc . (NASDAQ:RGLS), sold 31,445 shares of the company's common stock. The shares were sold at an average price of $1.2632 each, amounting to a total of $39,721. Following this transaction, Klassen retains ownership of 36,055 shares in the company.
The sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs), as specified in a pre-arranged 10b5-1 trading plan. This plan mandates the sale of shares to fulfill tax obligations and is not an indicator of Klassen's personal investment decisions. According to InvestingPro, the company maintains a strong liquidity position with more cash than debt on its balance sheet, though stock price movements remain volatile.
In other recent news, Regulus Therapeutics continues to make significant strides in its clinical trials and strategic partnerships. The biopharmaceutical company has secured an exclusive worldwide license from The University of Texas System for patents and technology aimed at treating autosomal dominant polycystic kidney disease (ADPKD). This agreement includes initial payments, milestone payments for clinical, regulatory, and commercial achievements, as well as tiered royalties on net sales of licensed products.
In a recent fireside chat, Jones Trading maintained its Buy rating on Regulus, highlighting the ongoing high unmet need in the ADPKD market and the potential benefits of reducing height-adjusted total kidney volume in a large pivotal study. The company is on schedule for an End of Phase 1 meeting with the FDA by the end of 2024, with plans to start a pivotal study in 2025.
Additionally, analyst firms H.C. Wainwright and Canaccord Genuity (TSX:CF) have both maintained Buy ratings on Regulus Therapeutics, indicating confidence in the company's ongoing projects. Regulus Therapeutics is also preparing for an end-of-Phase 1 meeting with the FDA, anticipated to occur near the end of 2024, which is expected to finalize the design for a pivotal Phase 2/3 trial in 2025. These are among the recent developments in Regulus Therapeutics' clinical program.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.