We haven’t covered ReNeuron’s (RENE) results since the end of 2016, but given the share price has risen by 148 per cent over the past 12 months, an assessment of recent events is in order. In February, the company announced “strongly positive preliminary efficacy data” in relation to clinical trials for its hRPC (human retinal progenitor cells) stem-cell therapy candidate in retinitis pigmentosa, a rare degenerative condition involving a breakdown and loss of cells in the retina.
All three patients in the study showed “a rapid improvement in vision compared with their pre-treatment baseline”. In practical terms, it meant the patients could read an additional four lines of letters on the standard ETDRS (early treatment diabetic retinopathy study) eye chart. Results for all the patients will be presented at the American Academy of Ophthalmology annual meeting in October. Management notes that “an improvement of at least 15 letters from baseline is considered to be clinically meaningful by the US Food and Drug Administration”.
RENEURON (RENE) | ||||
ORD PRICE: | 248p | MARKET VALUE: | £79m | |
TOUCH: | 245-250p | 12-MONTH HIGH: | 333p | LOW: 48p |
DIVIDEND YIELD: | nil | PE RATIO: | na | |
NET ASSET VALUE: | 74p | NET DEBT: | £26.4m |
Year to 31 Mar | Turnover (£000) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
2015 † | 30.0 | -10.3 | -50.0 | nil |
2016 † | 29.0 | -12.8 | -40.0 | nil |
2017 † | 46.0 | -18.2 | -49.2 | nil |
2018 | 43.0 | -21.0 | -55.7 | nil |
2019 | 49.0 | -17.2 | -45.2 | nil |
% change | +14 | - | - | - |
Ex-div: | - | |||
Payment: | - | |||
†EPS for 2015-2017 adjusted to take account of capital reorganisation |