ReNeuron Group

LN: RENE

£91.4m market cap

287.5p 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’s year-end update summarised its recent clinical progress in the human retinal progenitor cell (hRPC) programme in retinitis pigmentosa (RP), which has become the focus for investors, and a slight delay to its CTX programme for stroke disability. The announced £26.4m cash position was slightly higher than our prior YE19 forecast of £25.7m and will help ReNeuron’s position in any further partnering discussions.

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 (17.3) (15.8) (40.14) N/A N/A
2020E 0.0 (14.4) (14.4) (35.38) N/A N/A
Last updated on 22/05/2019
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 22/05/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (£m) 26
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 21.6 408.9 316.7
Relative* 23.7 399.4 349.0
52-week high/low 325.0p/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