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Morning Buzz: Regulus Therapeutics Inc (NASDAQ:RGLS), Xoom Corp (NASDAQ:XOOM), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Morning Buzz: Regulus Therapeutics Inc (NASDAQ:RGLS), Xoom Corp (NASDAQ:XOOM), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
Written by
Joel Najarian
Published on
October 29, 2014
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Regulus Therapeutics Inc (NASDAQ:RGLS) shares climbed Wednesday, after the biopharmaceutical company late Tuesday said its public offering of about 5.3 million shares of common stock priced at $17 per share for expected net proceeds of about $69.8 million. The price is a 3.5% discount to RGLS's Tuesday closing price. Regulus Therapeutics Inc (NASDAQ:RGLS) was up 5.2% at $18.53 in recent trading shortly after Wednesday's open, indicating investors had expected a bigger discount.Of the shares being offered, about 4.4 million are being sold by Regulus and the remaining 882,353 shares are being sold by an existing stockholder of Regulus, Isis Pharmaceuticals (ISIS). Regulus and Isis have granted the underwriters a 30-day option to purchase up to an additional 794,117 shares of common stock in the aggregate. The offering is expected to close on or about Nov. 3. Regulus said it anticipates using the net proceeds from the offering to fund preclinical and clinical development of its clinical candidates, RG-101 and RG-012, and its other initial microRNA development candidates, for the identification and validation of additional microRNA targets, and for capital expenditures, working capital and general corporate purposes.Shares of Xoom Corp (NASDAQ:XOOM), a company engaged in online international money transfer, reported financial results for Q3 2014 and weaker-than-expected revenue guidance. Non-GAAP diluted net income was $0.08 per share, up 33% from $0.06 in Q3 2013 and higher than the Street estimate of $0.03 provided by Capital IQ. Revenues were $39.4 million, up 22% from $32.3 million reported for the same quarter last year and short of the $40.2 million Street estimate.For Q4 2014, Xoom Corp (NASDAQ:XOOM) expects revenue to be between $41 million and $43 million, and non-GAAP diluted net income per share to be in the range of $0.03 and $0.06. The Street estimates on revenue and EPS were $44 million and $0.05, respectively. For full year 2014, the company expects revenue to be between $156.2 million and $158.2 million, and non-GAAP diluted net income per share to be in the range of $0.26 to $0.29. The Street estimates on revenue and EPS were $160 million and $0.23, respectively. Xoom trades in a 52-week range of $16.90 - $31.42.Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) reported Q3 net loss that was better than the Street expected while revenue beat estimates. Vertex reported total Q3 2014 GAAP revenues of $179 million, including revenues of $127 million from KALYDECO. The Street expected revenue of $147 million, according to Capital IQ estimates. The GAAP net loss for Q3 2014 was $170 million, or $0.72 per share, which includes net charges of $84 million.The non-GAAP net loss for the Q3 2014 was $86 million, or $0.37 per share. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) also today provided updated financial guidance for total 2014 non-GAAP revenues, 2014 KALYDECO revenues and non-GAAP operating expenses. As of September 30, 2014, Vertex had $1.48 billion in cash, cash equivalents and marketable securities. The Street expected a loss of $0.43 per share, according to Capital IQ estimates. Vertex shares are trading with a 52-week range of $58.06 to $116.88.

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