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Edison Investment Research Limited Edison issues update on ReNeuron Group (RENE): H124 results reaffirm focus on CustomEX™ 27-Nov-2023 / 08:53 GMT/BST The issuer is solely responsible for the content of this announcement. 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.
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