What Investors Are Watching For In Regulus Therapeutics' Next Data Release
Biotech companies that treat Hepatitis C were on fire in 2014. The leader of the pack, Gilead Sciences, Inc. (NASDAQ: GILD), had the most successful drug launch in history. AbbVie Inc (NYSE: ABBV) and Enanta Pharmaceuticals Inc (NASDAQ: ENTA) also got Viekira Pak approved in late 2014.
Additionally, Merck & Co., Inc. (NYSE: MRK) paid $3.5 billion to acquire Idenix Pharmaceuticals for its early stage Hepatitis C drug. Achillion Pharmaceuticals (NASDAQ: ACHN) is also up over 350 percent in the last year, due to enthusiasm over its nucleotide inhibitor for Hepatitis C.
Regulus Therapeutics Inc (NASDAQ: RGLS) participated in the trend too.
Regulus stock jumped over 100 percent when the company announced positive results from its lead microRNA drug called RG-101.
Unlike Gilead's pill, RG-101 is delivered with a single injection. In October, Regulus announced Phase 1 interim results that showed encouraging drops in viral loads. RG-101 was also safe and well tolerated.
Investors are now awaiting data from RG-101 in higher doses.
The company has guided that it expects to announce new updated results from RG-101 in early February.
The new results will include data from the viral load reduction in 4 mg/kg dosing cohort and a follow-up from the 2 mg/kg cohort.
It is expected that the full data will be released at the European Association for the Study of the Liver (EASL) conference in April.
In a recent report, analysts at Deutsche Bank stated: "The company has achieved proof of concept in targeting miRNAs in Hepatitis C patients and we view this as a major de-risking point for the platform. We believe Regulus has the opportunity to unlock significant long-term value for investors as this platform technology generates more clinical programs and matures."
The firm set a $30 price target for Regulus.
Latest Ratings for RGLS
|Jun 2016||BMO Capital||Downgrades||Outperform||Market Perform|
|Jun 2016||Chardan Capital||Maintains||Buy|
|Apr 2016||Chardan Capital||Initiates Coverage on||Buy|
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