Regulus Therapeutics Reports Q3 2024 Financial Results

Regulus Therapeutics Inc ( (RGLS) ) has released its Q3 earnings. Here is a breakdown of the information Regulus Therapeutics Inc presented to its investors.

Regulus Therapeutics Inc. is a biotechnology company specializing in the discovery and development of innovative drugs targeting microRNAs, which are small non-coding RNAs that regulate gene expression, primarily in the field of genetic diseases. Headquartered in San Diego, California, the company is noted for its pioneering work in this novel therapeutic area.

In its latest earnings report for the quarter ended September 30, 2024, Regulus Therapeutics Inc. highlighted significant financial developments, with a marked increase in research and development expenses as the company continues to advance its clinical and preclinical programs. The report also detailed the company’s strategic efforts to secure additional capital to fund ongoing and future operations.

Key financial metrics from the report indicated a net loss of $14.1 million for the third quarter of 2024, compared to a net loss of $7.8 million in the same period of the previous year. The company’s total operating expenses rose to $15.2 million, driven primarily by increased investments in research and development, which accounted for $11.3 million of the total. The company’s cash, cash equivalents, and investments stood at $87.3 million as of the end of the quarter, a significant increase from $30.8 million at the end of 2023, bolstered by a recent private placement that generated substantial funds.

Looking forward, Regulus Therapeutics Inc. plans to continue its focus on developing its microRNA therapeutic programs, while actively seeking additional funding opportunities to support its strategic objectives. The management expressed confidence in the company’s ability to advance its product candidates and achieve key milestones, despite the challenges inherent in the biotechnology sector.