Regulus Announces Completion of Public Offering and Exercise in Full of Overallotment Option

   Regulus Announces Completion of Public Offering and Exercise in Full of
                             Overallotment Option

PR Newswire

LA JOLLA, Calif., July 23, 2013

LA JOLLA, Calif., July 23, 2013 /PRNewswire/ --Regulus Therapeutics Inc.
(NASDAQ: RGLS), a biopharmaceutical company leading the discovery and
development of innovative medicines targeting microRNAs, announced today the
completion of an underwritten public offering of 5,175,000 shares of common
stock, including 675,000 shares sold pursuant to the full exercise of an
option to purchase additional shares previously granted to the underwriters,
at a price to the public of $9.50 per share. The gross proceeds to Regulus
from this offering were approximately $49.2 million, before deducting
underwriting discounts and commissions and estimated offering expenses payable
by Regulus.

Lazard Capital Markets LLC, Cowen and Company, LLC and BMO Capital Markets
Corp acted as joint book-running managers for the offering. Needham & Company,
LLC and Wedbush PacGrow Life Sciences acted as co-managers.

The securities described above were offered by Regulus pursuant to a
registration statement filed with the Securities and Exchange Commission
("SEC"), which the SEC declared effective on July 16, 2013.

The offering was made by means of a prospectus, copies of which may be
obtained from Lazard Capital Markets LLC, Attn: Syndicate Department, 30
Rockefeller Plaza, 48th Floor, New York, NY 10112, Telephone: (800) 542-0970;
from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long
Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, Telephone:
(631) 274-2806, Fax: 631-254-7140); or from BMO Capital Markets Corp,
Attention: Equity Syndicate Department, 3 Times Square New York, NY 10036,
Telephone: (800) 414-3627, E-mail: bmoprospectus@bmo.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.

About Regulus

Regulus Therapeutics Inc. is a biopharmaceutical company leading the discovery
and development of innovative medicines targeting microRNAs. Regulus is
leveraging a mature therapeutic platform based on technology that has been
developed over 20 years. Regulus works with a broad network of academic
collaborators and leverages the oligonucleotide drug discovery and development
expertise of its founding companies, Alnylam Pharmaceuticals and Isis
Pharmaceuticals. Regulus is developing RG-101 for the treatment of HCV and is
advancing other microRNA therapeutics toward clinical development in several
areas, including oncology, fibrosis and metabolic diseases. Regulus has formed
strategic alliances with AstraZeneca, GlaxoSmithKline and Sanofi and a
research collaboration with Biogen Idec.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not
historical facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements
relating to Regulus' expectations regarding future therapeutic and commercial
potential of Regulus' business plans, and technologies and intellectual
property related to microRNA therapeutics being discovered and developed by
Regulus. Because such statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or implied by such
forward-looking statements. Words such as "believes," "anticipates," "plans,"
"expects," "intends," "will," "goal," "potential" and similar expressions are
intended to identify forward-looking statements. These forward-looking
statements are based upon Regulus' current expectations and involve
assumptions that may never materialize or may prove to be incorrect. Actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of various risks
and uncertainties, which include, without limitation, risks associated the
process of discovering, developing and commercializing drugs that are safe and
effective for use as human therapeutics, and in the endeavor of building a
business around such drugs. These and other risks concerning Regulus'
programs are described in additional detail in Regulus' filings with the
Securities and Exchange Commission, including its quarterly report on Form
10-Q for the quarter ended March 31, 2013. All forward-looking statements
contained in this press release speak only as of the date on which they were
made. Regulus undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on which they
were made.

SOURCE Regulus Therapeutics Inc.

Website: http://www.regulusrx.com
Contact: Amy Conrad, Director, Investor Relations and Corporate
Communications, Regulus Therapeutics Inc., +1-858-202-6300,
aconrad@regulusrx.com; or Media, David Schull, Russo Partners LLC,
+1-212-845-4271, david.schull@russopartnersllc.com
 
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