Edison Investment Research - ReNeuron Group (RENE) ReNeuron Group - H124 results reaffirm focus on CustomEX

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Edison Investment Research

Sean Conroy

ReNeuron Group - H124 results reaffirm focus on CustomEX

ReNeuron has announced its H124 results (to end-September 2023), reaffirming its commitment to advance CustomEX(TM), its proprietary stem cell-derived exosome delivery platform. The key operational update from the period included in vivo data, marking a crucial step towards validating CustomEX(TM) and distinguishing it from peers in the exosome delivery space due to its cellular and tissue-targeting capabilities. As of 30 September 2023, ReNeuron had a cash balance of £5.1m, which we estimate should fund operations into Q1 FY25 (Q2 CY24), consistent with management’s expected cash runway to April 2024. As we roll our model forward and adjust our forecasts for FY24 and FY25, we amend our valuation of ReNeuron to £30.0m or 52p per share (versus £29.3m or 51p per share previously).

27/11/2023 1 EN

Underlying

ReNeuron Group

Reneuron Group researches and develops therapies using stem cells. Co.'s products include: CTX cells for stroke disability, which is its therapeutic candidate for the treatment of patients left disabled by the effects of a stroke; human retinal progenitor cells (hRPCs) for retinitis pigmentosa (RP), which is its therapeutic hRPC candidate for the treatment of RP, a blindness-causing disease of the retina; hRPCs for cone-rod dystrophy, which is a hRPC therapeutic candidate across a range of genetic diseases of the eye; and CTX-derived exosomes, which is its exosomes nanomedicine platform that generates early pre-clinical data in cancer.

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GB00BF5G6K95 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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ReNeuron Group - H124 results reaffirm focus on CustomEX

ReNeuron Group - Termination of coverage

Hardman & Co Healthcare Index: 2023 – Capital demands dent performance

Edison issues update on ReNeuron Group (RENE): H124 results reaffirm focus on CustomEX™

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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