ReNeuron Group - Time to reflect
ReNeuron’s H119 results highlighted cash of £30.7m, allowing it to execute on its ongoing clinical trials, although execution will bring a funding requirement in 2020. Operating expenses – expected to accelerate in H219 – resulted in total operating costs of £10.1m (vs £10.8m in H118) reflecting clinical study investment. Other operating income was a welcome buffer. Our revision of the clinical timelines has deferred revenues and moved our valuation to £192m or 608p per share from £280m or 885p per share.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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