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In recent transactions filed with the Securities and Exchange Commission, Crispina Calsada, Chief Financial Officer of Regulus Therapeutics Inc . (NASDAQ:RGLS), sold shares totaling $55,333. The sales, which took place on January 13 and January 14, were executed as part of a pre-established 10b5-1 plan to cover tax obligations arising from the vesting of Restricted Stock Units (RSUs). The transactions come as the stock, currently trading at $1.27, has experienced a significant 17.79% decline over the past week, according to InvestingPro data.
On January 13, Calsada sold 38,716 shares at a price of $1.2632 per share, amounting to $48,906. This was followed by the sale of an additional 5,088 shares on January 14 at the same price per share, totaling $6,427. These transactions reduced Calsada's direct ownership of Regulus Therapeutics stock to 45,478 shares in the $82.53 million market cap company.
The sales were necessitated by tax withholding obligations and were not discretionary trades by Calsada. These transactions are part of a strategy to manage tax liabilities associated with RSU vesting. While the company maintains a strong liquidity position with a current ratio of 14.14, InvestingPro analysis reveals additional insights about the company's financial health, with 12 more exclusive ProTips available to subscribers.
In other recent news, Regulus Therapeutics has reported significant developments. The company has secured an exclusive license from The University of Texas System for patents and technology aimed at treating autosomal dominant polycystic kidney disease. The agreement includes initial payments, milestone payments for clinical, regulatory, and commercial achievements, as well as tiered royalties on net sales of licensed products.
Jones Trading has affirmed a Buy rating on Regulus Therapeutics, maintaining a steady price target of $8.00. The firm's analysis followed a fireside chat with Regulus Therapeutics' CEO Jay Hagan and President Preston Klassen, discussing the company's clinical candidate RGLS8429. The firm highlighted the high unmet need in the ADPKD market and the potential benefits of a pivotal study on height-adjusted total kidney volume.
Regulus Therapeutics is preparing for an End of Phase 1 meeting with the FDA by the end of 2024, with plans to start a pivotal study in 2025. The company also anticipates releasing fixed-dose Phase 1 data in early 2025. Regulus is reported to have cash reserves of $87.3 million, expected to fund operations into the first half of 2026.
Analyst firms H.C. Wainwright and Canaccord Genuity have both maintained Buy ratings on Regulus Therapeutics, indicating confidence in the company's ongoing projects. In addition, the company disclosed additional exploratory results from its Phase 1b study of RGLS8429, which consistently impacted the height-adjusted total kidney volume across high-risk classes. These are among the recent developments at Regulus Therapeutics.
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