LA JOLLA, Calif., July 19, 2017 /PRNewswire/ -- Regulus
Therapeutics Inc. (NASDAQ: RGLS), a biopharmaceutical company
developing innovative medicines targeting microRNAs, today
announced the pricing of an underwritten public offering of
44,000,000 shares of its common stock at the price to the public of
$0.91 per share. Regulus has
granted the underwriters a 30-day option to purchase up to an
additional 6,600,000 shares of common stock. The offering is
expected to close on or about July 25,
2017, subject to customary closing conditions. The net
proceeds to Regulus from the offering, excluding any exercise by
the underwriters of their 30-day option to purchase additional
shares, are expected to be approximately $37.3 million after deducting underwriting
discounts and commissions and other estimated offering expenses
payable by Regulus. Regulus intends to use the net proceeds
from the offering to fund clinical development of its clinical
candidates, RG-012 and RGLS4326, development of its earlier
microRNA development candidates and programs, for the
identification and validation of additional microRNA targets, and
for capital expenditures, working capital and general corporate
purposes.
Leerink Partners is acting as sole book-running manager in the
offering. Needham & Company and Wedbush PacGrow are
acting as co-managers.
The securities described above are being offered by Regulus
pursuant to a shelf registration statement on Form S-3, including a
base prospectus, that was previously filed by Regulus with the
Securities and Exchange Commission (the "SEC") and that was
declared effective on May 2,
2016. A final prospectus supplement and the accompanying
prospectus relating to the offering will be filed with the SEC and
will be available for free on the SEC's website located at
http://www.sec.gov. Copies of the final prospectus supplement
and the accompanying prospectus relating to the offering, when
available, may be obtained from Leerink Partners LLC,
Attention: Syndicate Department, One Federal Street, 37th
Floor, Boston, MA02110, or by telephone at (800) 808-7525,
ext. 6132, or by email
at syndicate@leerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Regulus
Regulus is a biopharmaceutical company developing innovative
medicines targeting microRNAs. Regulus is advancing several
programs in renal, hepatic and central nervous systems
diseases. Regulus maintains its corporate headquarters in
La Jolla, CA.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include, without
limitation, statements regarding the completion, timing and size of
the offering, the net proceeds from the offering, the intended use
of proceeds from the offering and the expected ability of Regulus
to undertake certain activities and accomplish certain goals with
respect to its development programs. Because such statements
are subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "believes," "anticipates," "plans,"
"expects," "intends," "will," "goal," "potential" and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon Regulus' current
expectations and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of
events could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, risks associated
with market conditions and the satisfaction of closing conditions
related to the public offering, as well as risks and uncertainties
associated with Regulus' business and finances in general, and the
other risks described in Regulus' quarterly report on
Form 10-Q for the quarter ended March 31, 2017 and other
filings with the SEC. All forward-looking statements
contained in this press release speak only as of the date on which
they were made. Regulus undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after the date on which they were made.
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SOURCE Regulus Therapeutics Inc.