Regulus Therapeutics LLC reported a slightly smaller net loss for 2015, despite increased R&D spending. That’s thanks to a boost in revenue, according to the company’s recent earnings statement.
The San Diego firm reported a net loss of $55.7 million on revenues of $20.8 million for 2015, compared with a net loss of $56.7 million on revenues of $7.7 million in 2014. R&D spending went from $41 million in 2014 to $56.4 million last year.
“2015 was a milestone year for the company with the filing of three investigational new drug applications in the United States, and two clinical trial applications in the European Union,” said Dr. Paul Grint, president and CEO of Regulus, in a statement. “Our priorities for 2016, based on the data seen to date, include acceleration of our clinical programs, advancing our pipeline and defining the regulatory path to approval for our lead programs.”
The biotech, formed in 2007 with microRNA assets from Isis Pharmaceuticals and Alnylam Pharmaceuticals, is working on candidates for hepatitis C, cancer, fibrosis and metabolic disease alongside Big Pharma partners including GlaxoSmithKline, Sanofi and AstraZeneca.
Regulus also reported 2015 fourth quarter data, with a $7.2 million net loss on revenues of $10.9 million, compared with a net loss of $22.2 million on revenues of $4.2 million in the same period the prior year.