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Regulus Reports Second Quarter 2014 Financial Results and Recent Highlights
Date:8/6/2014

ently or with a strategic partner) by the end of 2014.
  • Attracted Key Talent.  Regulus appointed Paul C. Grint, M.D. as Chief Medical Officer.  Dr. Grint is responsible for leading and expanding Regulus' microRNA clinical portfolio and is a key member of its executive management team.
  • Second Quarter 2014 Financial Results & Highlights Regulus reported a net loss of $12.0 million and $24.7 million for the three and six months ended June 30, 2014, respectively, compared to a net loss of $7.3 million and $14.6 million for the same periods in 2013.  Basic and diluted net loss per share was $0.28 and $0.29 for the three months ended June 30, 2014, respectively, compared to basic and diluted net loss per share of $0.20 for the same period in 2013. Basic and diluted net loss per share was $0.57 for the six months ended June 30, 2014, compared to $0.41 for the same period in 2013.

    Regulus recognized revenue of $0.7 million and $2.4 million for the three and six months ended June 30, 2014, respectively, compared to $4.8 million and $8.0 million for the same periods in 2013.  Revenue during these periods consisted primarily of amortization of up-front payments received from our strategic alliances and collaborations, which is recognized over the estimated period of performance.

    Research and development expenses were $10.8 million and $20.4 million for the three and six months ended June 30, 2014, respectively, compared to $7.7 million and $14.6 million for the same periods in 2013.  This increase was primarily driven by the initiation of a Phase I clinical study for RG-101, IND-enabling costs for RG-012 and the continued advancement of other preclinical development programs. 

    General and administrative expenses were $3.0 million and $5.7 million for the three and six months ended June 30, 2014, respectively, compared to $1.7 million and $3.6 million for the same periods in 2013. This increase was p
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