Cash-strapped Regulus braces for drastic downsizing while hitting the brakes on lead programs
Still suffering from financial woes triggered by a streak of setbacks over the past two years, Regulus Therapeutics is now putting its two clinical programs on hold — and axing 60% of its remaining staff.
The news landed quietly just after the July 4th holiday, which didn’t prevent Regulus’ already battered stock price $RGLS from taking a steep dive of 52% to date. Altogether, the changes are expected to translate into $20 million in annualized savings, fueling the company through mid-2019 when added to the $45.1 million the company already has in the bank as of March 31.
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