ReNeuron Group (RENE): Extension Trial to Produce Data in Q122
ReNeuron announced the restart of its nine-patient Phase IIa extension study, previously halted due to an eye infection case. With five patients remaining, two are set for treatment this October. Initial data is expected by March 2022, crucial for potential partnerships. The company maintains a valuation of £190m, supported by cash reserves of £22.2m as of March 2021, projected to sustain operations through Q4 FY23. The management anticipates possible eye therapy deals and exosome collaborations that could cover pivotal trial costs.
- Phase IIa extension study has resumed after being halted previously.
- Initial data release expected by March 2022, potentially leading to partnerships.
- Cash reserves of £22.2m expected to last through Q4 FY23.
- Possible eye therapy and exosome deals may cover pivotal trial costs.
- None.
LONDON, UK / ACCESSWIRE / October 11, 2021 / ReNeuron has announced that the nine-patient Phase IIa (2m cell dose) extension study (halted in June after a presumed eye infection case) has fully restarted with five patients left to treat. Two patients are scheduled for treatment in October. The company expects to report some data by March 2022, which could potentially open the way to a crucial partnering deal. Full efficacy data at six months post-treatment should be available around the middle of 2022. Our valuation remains £190m.
Management has stated that cash of £22.2m at March 2021 will cover costs for at least 12 months; we estimate that to Q4 FY23 is possible. An eye therapy deal from Q3FY23 might occur and could cover the pivotal trial costs. Exosome deals are possible. Our indicative value is unchanged at £190m and will be updated once the Q1CY22 initial data is presented and when pivotal trial timelines are confirmed.
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FAQ
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