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Regulus Posts Increased Q1 Losses, Lower Revenues

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NEW YORK (GenomeWeb) – Regulus Therapeutics last week posted its first-quarter financial results, reporting a sharp increase in its net loss on higher expenses.

The company's net loss in the three-month period ended March 31, 2014 arrived at $12.7 million, or $.30 per share, compared with $7.2 million, or $.20 a share, last year.

Revenues in the quarter slipped to $1.6 million from $3.2 million, while research and development spending jumped to $9.6 million from $6.9 million. Regulus attributed this increase to the initiation of a Phase I trial for its hepatitis C therapy RG-101, as well as continued work on preclinical candidates.

General and administrative costs, meanwhile, edged up to $2.7 million from $1.9 million.

At the end of the first quarter, Regulus had cash, cash equivalents, and short-term investments totaling $114.6 million.

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