Why Did The Regulus Therapeutics (RGLS) Stock Surged In The After-Hours Session?

Following the biopharmaceutical company’s announcement of a board member’s departure, Regulus Therapeutics Inc. (NASD: RGLS) has increased 11.33% to $1.67 in after-hours trading on the latest check Wednesday.

Who has been leaving RGLS?

Simos Simeonidis, Ph.D., a member of the Board of Directors at Regulus Therapeutics (RGLS), announced his resignation from the Board on Monday. According to Regulus Therapeutics, the board member resigned owing to the time demands of his most recent position as co-Chief Investment Officer and co-Chief Executive Officer at Ally Bridge Group. His departure was finalized on December 6, 2022.

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Throughout his time at RGLS, Mr. Simeonidis continued to have a significant leadership influence. Since becoming a member of the Board, Mr. Simeonidis has offered the team vital insights based on his experience in biomedical research and investment management. These insights have helped RGLS reach key milestones and position the firm for long-term success.

RGLS reported new hires and management changes

Recently, RGLS appointed Claire Padgett, Ph.D., Senior Vice President, Clinical Operations, and Rekha Garg, M.D., M.S., Senior Vice President, Clinical Development and Regulatory. Additionally, RGLS announced the promotions of Edmund Lee, Ph.D., to Vice President, Translational Medicine, and Morgan Carlson, Ph.D., to Vice President, Biology. The business also disclosed that Denis Drygin, Ph.D., has resigned from his position as a chief scientific officer in order to seek other opportunities.

In recognition of their contributions to the creation of RGLS’s biomarker strategy for its ADPKD program and their successful leadership of our earlier stage research efforts, RGLS promoted Drs. Lee and Carlson to the newly created positions of Vice President, Translational Medicine, and Vice President, Biology.

What motivated RGLS to add fresh team members?

Regulus Therapeutics (RGLS) will be able to concentrate on moving RGLS8429 through clinical trials for the benefit of patients with ADPKD thanks to the announcement of the appointments of two industry veterans. Drs. Garg and Padgett have been assisting RGLS in advancing the Phase 1 ADPKD program as advisors.

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