BioCentury
ARTICLE | Financial News

Regulus raises $45M in IPO

October 5, 2012 1:00 AM UTC

Regulus Therapeutics Inc. (NASDAQ:RGLS) raised $45 million through the sale of 11.3 million shares at $4 in an IPO underwritten by Lazard; Cowen; BMO Capital Markets; Needham; and Wedbush. Regulus also raised $25 million through the sale of 6.3 million shares at the same price to partner AstraZeneca plc (LSE:AZN; NYSE:AZN). The offerings value Regulus at $136.5 million.

In September, Regulus amended its IPO to sell 4.5 million shares at $10-$12. At $11 midpoint of the original range and 4.5 million shares, the company would have raised $50 million and been valued at $239 million. With its partners, Regulus is developing microRNA therapeutics against cancer, and infectious and inflammatory diseases (see BioCentury, Aug. 20). ...