ReNeuron Group

LN: RENE

Market Cap£16m

Last Close 28.5p

ReNeuron Group is a UK biotech company developing allogeneic cell therapies. Human retinal progenitor cells are the lead Phase I/IIa project for retinitis pigmentosa. There is a strong preclinical technology base in exosomes and cell therapies.

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Investment summary

ReNeuron has announced that the nine-patient Phase IIa (2m cell dose) extension study (halted in June after a presumed eye infection case) has fully restarted with five patients left to treat. Two patients are scheduled for treatment in October. The company expects to report some data by March 2022, which could potentially open the way to a crucial partnering deal. Full efficacy data at six months post-treatment should be available around the middle of 2022. Our valuation remains £190m.

Y/E Mar
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2020A 6.2 (14.0) (13.9) (35.85) N/A N/A
2021A 0.3 (12.5) (13.4) (29.00) N/A N/A
2022E 0.3 (12.8) (13.1) (19.12) N/A N/A
2023E 0.4 (12.8) (13.2) (19.12) N/A N/A
Content on ReNeuron Group
ReNeuron Group – Extension trial to produce data in Q122
Healthcare | research Update | 8 October 2021
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Share price graph
Balance sheet
Forecast net cash (£m) 11
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 5.6 2.7 (68.9)
Relative* 12.6 8.5 (67.1)
52-week high/low 118.5p/25.5p
*% relative to local index
Key management
John Berriman Chairman
Olav Hellebø CEO
Michael Hunt CFO
John Sinden Chief Scientific Officer