On December 31, 2021, Regulus Therapeutics Inc. (the Company") entered into an eleventh amendment to its Loan and Security Agreement (the Eleventh Amendment") with Oxford Finance LLC, as the collateral agent and a lender (the Lender"), dated June 17, 2016, as amended, pursuant to which the Lender lent the Company $20.0 million in a term loan (Term Loan"). Under the terms of the Eleventh Amendment, the Company's required monthly payments to the Lender are to be comprised of interest only through and including (i) December 1, 2022, if the 2022 Equity Event (as defined below) does not occur or (ii) December 1, 2023 if the 2022 Equity Event occurs. The 2022 Equity Event" means the receipt by the Company, during the calendar year 2022, of unrestricted net cash proceeds of at least $20.0 million from the sale and issuance of its equity securities.

In addition, the maturity date for the Term Loan was extended to May 1, 2024.