Mon, 13 Jul 2020

Edison Issues Update on ReNeuron Group (RENE)

20 May 2019, 22:13 GMT+10

LONDON, UK / ACCESSWIRE / May 20, 2019 / 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 Pound 26.4m cash position was slightly higher than our prior YE19 forecast of Pound 25.7m and will help ReNeuron's position in any further partnering discussions.

We have moved the recognition of the Fosun upfront payment, which we had previously estimated in FY19, to FY20. We have also trimmed FY19 R&D spend by c Pound 7m to take into account the slower start of the CTX study. Our valuation has changed slightly due to these modifications and the revised FY19 cash balance from Pound 199m or 630p per share to Pound 193m or 610p per share.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Andy Smith
+44 (0)20 3077 5700

Learn more at and connect with Edison on:


SOURCE: Edison Investment Research Limited

View source version on

More Orlando News

Access More

Sign up for The Orlando News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!