Regulus Therapeutics (NASDAQ:RGLS) is on the move today. In fact, shares of RGLS stock hit a fresh 52-week high intraday, and have held gains at around 13% at the time of writing.
This move comes on a lack of news. It appears investors are trying to find out what’s cooking in the RGLS kitchen right now.
This biotech stock has moved substantially today on extremely high volume. More than 65 million shares have been traded as of this afternoon, compared to average volume just over 2.1 million shares. This has led to speculation there may be an announcement upcoming for this company.
Indeed, the biotech space is on fire right now. Penny stock investors looking for outsized gains have gravitated toward options like RGLS stock of late. However, heightened interest in this sector doesn’t explain the massive volume jump today.
For those interested in RGLS stock, here are a few things to know about this company.
What’s the Deal with RGLS Stock?
- Regulus Therapeutics is focused on harnessing microRNA therapeutics. The company is “focused on harnessing their power to target multiple pathways of disease.”
- The company’s pipeline of drugs include therapeutics aimed at various kidney, liver and CNS disorders.
- Among these, the company’s RGLS4326 drug aimed at ADPKD (kidney disease) has completed enrollment of its Phase 1b clinical trial. This announcement was made earlier this week.
- This week, the company also completed a $19 million private financing investors believe will provide sufficient capital to support its development objectives.
- The company’s recent earnings release also showed strength in its underlying business. Revenue rose to $5 million this past quarter, and $10 million for 2020. This compared to $0.1 million and $6.8 million, respectively, for the same time periods last year.
- Regulus’ management team believes continued strength in the company’s RG-012 drug aimed at Alport syndrome could drive further improvement. This drug achieved an enrollment milestone in its Phase 2 development. Regulus is collaborating with Sanofi (NASDAQ:SNY) on the drug.
- Additionally, RGLS’ net loss narrowed, enticing investors bullish on the long-term profitability prospects of this company.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.