LONDON, July 13, 2018 (GLOBE NEWSWIRE) -- ReNeuron ended FY18 with a healthy cash balance and the 11 July announcement of an exclusivity agreement worth up to US$5m with a US specialty pharmaceutical company for the evaluation of ReNeuron’s hRPC platform now leaves it well-funded through to FY20. A key milestone is the imminent start of the US Phase IIb PISCES III placebo-controlled study in chronic stroke disability, which heralds the later stages of clinical development for ReNeuron.
We have updated our model for the FY18 results, and incorporated the recent grants and US fee agreement. Our valuation moves to £280m or 8.9p per share from £276m or 8.7p per share, but does not yet include the second $2.5m (£1.9m) payment in evaluation fees, which could be received in the next three months.
Click here to view the full report.
All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com
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
Alice Nettleton, +44 (0)20 3077 5700
Learn more at www.edisongroup.com and connect with Edison on: