Reneuron Share News (RENE)

(Sharecast News) - Cell-based therapeutics developer ReNeuron Group issued its interim results for the six months ended 30 September on Friday, reporting a reduced loss for the period of £5.32m, from £9.57m year-on-year.The AIM-traded firm said cash consumed by operations fell to £7.54m from £9.22m, with cash, cash equivalents and bank deposits as at period end standing at £30.67m, down from £37.41m.On the operational front, looking at its 'CTX' stem cell therapy candidate for stroke disability, ReNeuron said patient screening and enrolment had begin in its Phase IIb clinical trial in the US during the period.Top line data from that study was expected in early 2020.With regards to its hRPC stem cell therapy candidate for retinal diseases, the company reported that an "optimised formulation" of the product had been developed and approved for use in ongoing Phase I/II clinical trial in retinitis pigmentosa in the US.Patient dosing had recommenced in the Phase I/II study using the optimised hRPC formulation, with top line data expected in mid-2019.Work on its exosome platform also continued, with the programme to be re-focussed on the use of ExoPr0 as a drug delivery vehicle, providing "greater scope" for potential near-term partnering deals.ReNeuron said it saw "Increased business development activity" in the period, which the board said reflected third-party interest in its core therapeutic programmes.It said "active and well-progressed" discussions were ongoing with commercial third parties."Our therapeutic development programmes have continued to progress well during the period," said chief executive officer Olav Hellebø."We are particularly excited to have opened the placebo-controlled Phase IIb clinical trial in the US for CTX in chronic stroke disability."We remain encouraged by the progress made in partnering discussions across all of our technologies and programmes and we hope to be able to conclude an initial out-licensing agreement in the near term."Hellebø said the company had continued to maintain "tight control" over its operating costs, reflected in the financial statements for the period."Our cash position remains robust and we are positioned to deliver significant clinical milestones in our stroke and retinitis pigmentosa programmes over the next 18 months."