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Regulus Reports Third Quarter 2012 Financial Results and Recent Highlights
Date:11/19/2012

nsisted primarily of amortization of upfront payments received from GSK and Sanofi which we amortize monthly on a straight-line basis over our period of performance. The total amortization attributable to payments from Sanofi was $2.5 million and $7.5 million for each of the three and nine months ended September 30, 2012 and 2011, respectively.  The total amortization attributable to upfront payments from GSK was $186,000 and $1.3 million for the three months ended September 30, 2012 and 2011, respectively, and $1.8 million and $2.9 million for the nine months ended September 30, 2012 and 2011, respectively.  The decrease in the amount amortized for GSK in 2012 compared to 2011 is the result of our June 2012 amendment to the collaboration agreement which extended our period of performance.

Research and Development ExpensesResearch and development expenses were $5.2 million and $14.7 million for the three and nine months ended September 30, 2012, respectively, compared to $3.9 million and $12.8 million for the same periods in 2011. The increase of $1.4 million and $1.9 million for the three and nine month periods ended September 30, 2012 was primarily related to increases in payroll and related benefits, laboratory supplies and external services to advance our preclinical programs.

General and Administrative ExpensesGeneral and administrative expenses were $1.1 million and $3.0 million for the three and nine months ended September 30, 2012, respectively, compared to $907,000 and $2.9 million for the same periods in 2011. The increases primarily represent legal services related to our transactions with AZ and Biogen Idec completed in August 2012.

Conference Call & Webcast InformationRegulus will host a conference call and webcast at 5:00 pm Eastern Standard Time today to discuss its third quarter 2012 financial results and highlights. A live w
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SOURCE Regulus Therapeutics Inc.
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