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Regado Biosciences Announces Second Quarter 2014 Financial Results and Corporate Highlights
Date:8/11/2014

BASKING RIDGE, N.J., Aug. 11, 2014 /PRNewswire/ -- Regado Biosciences, Inc. (Nasdaq: RGDO), a biopharmaceutical company focused on the Phase 3 clinical development of Revolixys™ Kit (previously known as REG1), its first-in-class, actively controllable antithrombotic drug system, today announced its second quarter 2014 corporate highlights and financial results. A conference call and webcast to discuss the results will be held August 12, 2014, at 8:30 a.m. EDT.

SECOND QUARTER 2014 FINANCIAL SUMMARYCash and cash equivalents at June 30, 2014, totaled $72.7 million compared to $30.7 million at December 31, 2013. Regado's net loss for the quarter ended June 30, 2014, was $21.4 million or a net loss of $.63 per share as compared to a net loss of $5.6 million or a net loss of $24.24 per share for the corresponding period in 2013 on both a basic and fully diluted basis.

Research and development expenses for the second quarter of 2014 were $18.5 million, compared to $4.3 million for the comparable 2013 period. The increase in research and development expenses was primarily the net result of the REGULATE-PCI clinical trial which began in Q3 2013. The clinical trial expenses include site start-up costs, patient reimbursement and clinical trial drug product. The company expects research and development expenses to be reduced during the period of the clinical hold which is currently in place.

General and administrative expenses for the second quarter of 2014 were $2.8 million, compared to $1.1 million for the comparable 2013 period. The increase in general and administrative expenses primarily reflected increased personnel as well as increased accounting, legal and other administrative costs associated with being a public company. The company expects general and administrative expenses to potentially increase during the remainder of the year in connection with the purp
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