ReNeuron Group - Time to reflect

Edison Investment Research - Pharmaceuticals & healthcare - ReNeuron Group: ReNeuron's H119 results highlighted cash of £30.7m, allowing it to execute on its ongoing clinical trials, although execution will bring a funding requirement in 2020. Operating expenses - expected to accelerate in H219 - resulted in total operating costs of £10.1m (vs £10.8m in H118) reflecting clinical study investment. Other operating income was a welcome buffer. Our revision of the clinical timelines has deferred revenues and moved our valuation to £192m or 608p per share from £280m or 885p per share.

ISIN: GB00BF5G6K95

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