ReNeuron Group

LN: RENE

£43.5m market cap

151.5p 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

The first set of 12-month data from the ongoing retinitis pigmentosa (RP) eye study has been released showing a stable longer-term response, which is excellent. However, the 12-month data are only for three patients so far with mean numbers reported. ReNeuron aims to present more RP eye data over 2020. Stroke data from the CTX PISCES III trial are expected around mid-2021. We retain the indicative value of ReNeuron at £197m.

Y/E Mar
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2018A 0.9 (20.2) (21.0) (55.66) N/A N/A
2019A 2.7 (17.9) (17.2) (45.34) N/A N/A
2020E 6.1 (23.4) (22.8) (60.33) N/A N/A
2021E 3.1 (31.0) (30.8) (83.69) N/A N/A
Industry outlook

Cell and gene therapies are demonstrating paradigm changing efficacy in many diseases, with regulatory bodies keen to quickly advance these therapies to the market. Boosted by this wave of regulatory approvals, the cell and gene therapy industry is experiencing an explosion in investment and M&A.

Last updated on 26/02/2020
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (£m) 8.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (9.6) 7.1 141.6
Relative* (7.5) 3.6 130.4
52-week high/low 325.0p/54.0p
*% relative to local index
Key management
John Berriman Chairman
Olav Hellebø CEO
Michael Hunt CFO
John Sinden Chief Scientific Officer

Content on ReNeuron Group