NEW YORK, Jan. 30, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Regulus Therapeutics Inc. ("Regulus" or the "Company") (NASDAQ: RGLS).
The investigation focuses on whether the Company and its executives violated federal securities laws by misrepresenting the prospects and efficacy of its hepatitis C trial drug, RG-101.
Initially, after market-close on June 27, 2016, Regulus announced that the U.S. Food and Drug Administration ("FDA") had put RG-101 on clinical hold after a second serious case of jaundice was reported during clinical trial. After the announcement, Regulus's share price fell from $5.01 per share on June 27, 2016 to a closing price of $2.54 on June 28, 2016 —a $2.38 or a 49.3% drop.
Then, after market-close on January 27, 2017, Regulus revealed that the FDA would not reconsider the clinical hold on RG-101 until the agency had received the final safety and efficacy data from ongoing clinical and pre-clinical studies. The Company expects that the requested data will be available in the fourth quarter of 2017. After the announcement, Regulus's share price dropped from $ 2.25 per share on January 27, 2017 to a price of $1.05 on January 30, 2017 or a 53.3% decrease.
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If you invested in Regulus stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/RGLS. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Regulus's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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