This Biotech Wasted No Time Stealing The Premarket Show

A California-based biotech company is kicking the week off with a bang as shares are already on the move so far during Monday’s premarket hours. This can likely be attributed to the fact that the company announced that their potential kidney disease drug (RGLS8429) was “well-tolerated with no safety concerns.”

Traders were quick to snatch up shares of Regulus Therapeutics Inc. (Nasdaq:RGLS), which shares of the small cap currently bid up at $2.74/share (+9.16% implied open for sellers) at the time of writing. It should be an exciting start to the week for this biotech!

Regulus Therapeutics Inc is a biotechnology company focused on the development of microRNA therapies. MicroRNA therapies target diseases such as cancer, metabolic diseases, fibrosis, and inflammatory diseases. MicroRNA is a noncoding ribonucleic acid that regulates most genes in the genome. The company partnered with Sanofi to create a compound targeting orphan diseases and with AstraZeneca to cure Type 2 Diabetes/prediabetes.

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