Polyene compounds represented by the formula ##STR1## in which R is H or an alkyl group of from 1 to 5 carbon atoms, R.sub.1 is H, lower alkyl of from 1 to 8 carbon atoms or aralkyl, and the pharmaceutically acceptable salts thereof. The foregoing compounds have been found active in regulating phospholipases and as such possess therapeutic value in the treatment of inflammatory conditions.