San Diego’s Regulus Therapeutics Readies for IPO This Week

San Diego’s Regulus Therapeutics is among eight companies on deck at the Nasdaq exchange for IPOs this week, according to a report today from Renaissance Capital, the Connecticut-based institutional research and investment management services firm.

Regulus, founded five years ago, has been developing microRNA treatments for serious diseases. The company has formed alliances with Big Pharma companies, including AstraZeneca, Sanofi, and GlaxoSmithKline, to help advance its development of microRNA drugs. Regulus plans to raise about $50 million by offering 4.5 million shares at a price between $10 and $12 per share.

At the midpoint of the proposed range, the market value of Regulus would be about $239 million.

The company plans to list on the Nasdaq market under the symbol RGLS.

Another company in the IPO queue this week is LifeLock, a Tempe, AZ-based company that acquired San Diego’s ID Analytics in March for $186 million. LifeLock, a Web-based company that provides identity theft protection services, plans to raise $165 million by offering 15.7 million shares at a price range of $9.50 to $11.50. At the midpoint of the proposed range, LifeLock would command a market value of $981 million. The company plans to trade its shares under the symbol LOCK.

LifeLock, founded in 2005, generated $228 million in revenue over the last 12 months.

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.