Shares of Regulus Therapeutics fell back near their already-reduced initial public offering level this week, suggesting that Wall Street may be less willing to embrace microRNA therapeutics than may have been anticipated.

By mid-morning Thursday, shares of Regulus were selling around $4.15, just $0.15 over the price at which they debuted to the public on Oct. 5.

To Byron Capital Markets analyst Doug Loe, the tepid response to Regulus' IPO is likely due to a combination of factors, most notably the early-stage nature of its product candidates.

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