Edison Investment Research Limited
London, UK, 27 November 2023
Edison issues update on ReNeuron Group (RENE): H124 results reaffirm focus on CustomEX ReNeuron has announced its H124 results (to end-September 2023), reaffirming its commitment to advance CustomEX, its proprietary stem cell-derived exosome delivery platform. The key operational update from the period included in vivo data, marking a crucial step towards validating CustomEX and distinguishing it from peers in the exosome delivery space due to its cellular and tissue-targeting capabilities. As of 30 September 2023, ReNeuron had a cash balance of £5.1m, which we estimate should fund operations into Q125, consistent with management's expected cash runway to April 2024. As we roll our model forward and adjust our forecasts for FY24 and FY25, we amend our valuation of ReNeuron to £30.0m or 52p per share (versus £29.3m or 51p per share previously).
We value ReNeuron at £30.0m or 52p per share (versus £29.3m or 51p per share previously). The slight change is due to rolling our model forward and a minor adjustment to our forecasts.
All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. 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: Soo Romanoff +44 (0)20 3077 5700 healthcare@edisongroup.com Dr Arron Aatkar +44 (0)20 3077 5700 healthcare@edisongroup.com Jyoti Prakash, CFA +44 (0)20 3077 5700 healthcare@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitterwww.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
1782267 27-Nov-2023
