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Regulus Therapeutics Inc. (RGLS+5.80%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on the discovery and development of microRNA-based therapeutics, with a particular emphasis on orphan kidney diseases. Their lead product candidate, farabursen, is in Phase 1b clinical development for the treatment of autosomal dominant polycystic kidney disease (ADPKD).
The company reported a net loss of $46.4 million for the year ended December 31, 2024, compared to a net loss of $30.0 million for the previous year. The increase in net loss is attributed to higher research and development expenses, which rose to $35.4 million from $21.2 million in 2023.
General and administrative expenses also increased to $14.7 million from $10.0 million in the prior year, primarily due to higher non-cash stock-based compensation.
As of December 31, 2024, Regulus had cash, cash equivalents, and short-term investments totaling $75.8 million. The company raised $93.9 million in net proceeds from a private placement of common stock and non-voting convertible preferred stock in March 2024.
The company acknowledges the need for additional capital to fund operations beyond the next 12 months and is considering various financing options, including equity and debt financings.
Regulus highlights several risks, including its dependence on successful clinical trial outcomes, the need for regulatory approvals, and the ability to secure additional financing.
The filing also discusses the company's collaborations, including a terminated agreement with Sanofi and a new licensing agreement with the University of Texas Southwestern Medical Center for products targeting miR-17 for ADPKD.
Regulus continues to advance its internal discovery pipeline to identify potential product candidates and is focused on expanding its intellectual property estate to protect its microRNA therapeutics.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Regulus Therapeutics Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.