ReNeuron Group

LN: RENE

£23.9m market cap

75.5p last close

ReNeuron is a UK biotech company developing allogeneic cell therapies: CTX neural stem cell products for stroke disability (Phase IIb) and human retinal progenitor cells for retinitis pigmentosa (Phase I/II).

Investment summary

ReNeuron is focused on three cell therapy-based programs. The CTX neural stem cell program has demonstrated positive response rates in key measures were sustained after extended follow-up. ReNeuron has started the placebo-controlled Phase IIb trial in chronic stroke disability with data expected in early 2020. ReNeuron also has the hRPC (human retinal progenitor cells) program for retinitis pigmentosa (currently in Phase I/II) and will also be starting a Phase IIa trial in cone-rod dystrophy. Interim data on the RP Phase I/II study was announced at the beginning of 2019 and early efficacy was striking. The exosome platform (generated from the CTX cell line) is a further source of products and business development for ReNeuron.

Y/E Mar
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2017A 0.9 (19.8) (18.2) (0.49) N/A N/A
2018A 0.9 (20.2) (21.0) (55.66) N/A N/A
2019E 0.0 (23.6) (22.0) (55.17) N/A N/A
2020E 0.0 (27.2) (27.2) (70.94) N/A N/A
Last updated on 21/03/2019
Industry outlook

Limited drug development has targeted chronic stroke to date, which is the area in which ReNeuron is attempting to demonstrate a meaningful reduction in disability. If shown, it would offer a compelling case for further development and/or partnering. The recent striking RP data makes a partnering transaction more likely.

Last updated on 21/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (£m) 19.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 33.6 54.1 (15.6)
Relative* 30.7 40.6 (18.3)
52-week high/low 99.0p/47.5p
*% relative to local index
Key management
John Berriman Chairman
Olav Hellebø CEO
Michael Hunt CFO
John Sinden Chief Scientific Officer

Content on ReNeuron Group