Regulus Therapeutics Inc. raised $51.8 million in its upsized initial public offering at $4.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,687,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares and the concurrent private placement will be used by Regulus Therapeutics Inc. for the preclinical and clinical development of their initial microRNA development candidates, for the identification and validation of additional microRNA targets and for
other general corporate purposes.
Regulus Therapeutics Inc., founded by Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) and Isis Pharmaceuticals, Inc. (NASDAQ: ISIS), is a biopharmaceutical company leading the discovery and development of innovative medicines targeting microRNAs. Regulus is using a mature therapeutic platform based on technology that has been developed over 20 years. Regulus is advancing microRNA therapeutics toward clinical development in several areas, including oncology, fibrosis, hepatitis C and metabolic diseases.