ReNeuron Group (RENE); reduces loss to £5.32m from £9.57m

Published on 14-12-2018 08:19:45
Author Sparks Team

ReNeuron announced its interim results for the six months ended 30 September 2018. At the period-end, cash consumed by operations declined to £7.54m, while total cash fell to £30.67m (vs. 31 March 2018: £37.41m).

In hRPC stem cell therapy for retinal diseases, the optimised formulation of the hRPC drug product was developed by the company and approved for use in ongoing Phase I/II clinical trial in retinitis pigmentosa in the US. Patient dosing recommenced in Phase I/II study using optimised hRPC formulation, and top line data from this study is expected in mid-2019.

The Exosome platform is expected to re-focus on the usage of ExoPr0 as a drug delivery vehicle, providing more scope for potential near-term partnering deals.

Olav Hellebø, RENE’s CEO, said: “We have continued to maintain tight control over our operating costs, reflected in the financial statements for the period. Our cash position remains robust and we are positioned to deliver significant clinical milestones in our stroke and retinitis pigmentosa programmes over the next 18 months.”

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