Wedbush Securities Reacts to Regulus Therapeutics Announcing ATHENA Natural History Study

In a report published Friday, Wedbush Securities analyst Liana Moussatos reiterated an Outperform rating and $19.00 price target on

. In the report, Wedbush Securities noted, “Regulus announced the initiation of the ATHENA natural history study in patients with Alport syndrome. Over the next two years, the company plans to enroll 120 Alport syndrome patients who are 16 years old or older and have a Glomerula Filtration Rate (GFR) between 30-75ml/min. The company will collect longitudinal data on biomarkers of renal function including GFR, creatine, proteinuria and beta-microglobulin. Information from this study will guide the design of their clinical trials of RG-012 (anti-miR-21) in Alport syndrome. The company anticipates starting its Phase 1 in H1 2015 and we anticipate data release in mid-2015. If successful, we estimate RG-012 gross annual peak sales could reach about $480MM.” Regulus Therapeutics closed on Thursday at $7.37.