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BUZZ-Regulus Therapeutics: Strategic Partner reduces stake

Reuters - UK Focus

** Regulus shares down about 7 pct premarket as strategic partner AstraZeneca (NYSE: AZN - news) reduces its holdings.

** AstraZeneca files intent to sell unregistered 2m shares, $20.47 indicative price, through market maker Morgan Stanley (Xetra: 885836 - news) .

** Sources cite Morgan Stanley priced shares at $18.25, vs. Wednesday's $19.62 last sale.

** AstraZeneca acquired 6.25m shares in private placement alongside company's Oct 2012 IPO, at $4 public offering price.

** Offering represents about 4 pct of shares outstanding.

** Stock continues steep ascent, up 200 pct in a month, after hepatitis C drug (HCV) test results showed promise and company reported earnings.

** Drug developer raised about $70 mln last month in public offering which saw founding company Isis Pharmaceuticals (Stuttgart: 881866 - news) monetize portion of its stake. (RM (LSE: RM.L - news) : lance.tupper.thomsonreuters.com@reuters.net)