shares of biopharmaceutical company regulus therapeutics inc are trading higher in thursdays afterhours market following the company saying it was on track to initiate a phase 1 study of its rgls8429 after a meeting with the food and drug administration regulus said the preinvestigational new drug meeting concerned its rgls8429 as a potential treatment for autosomal dominant polycystic kidney disease based on the meetings minutes the company said it is on track to submit the ind and initiate a phase 1 study in the second quarter at 530 pm est the companys shares were trading 654 higher at 26 cents each the stock finished the days regulartrading session at 24 cents a share