LONDON (Alliance News) - ReNeuron Group PLC on Wednesday said it expects its annual results to be in line with the board's expectations as it made progress on several clinical programmes.
The cell-based therapeutics developer also said that its cash and bank deposits, amounting to GBP26.4 million, will be sufficient to support operations for at least the next 12 months.
Regarding its clinical programmes, ReNeuron said it made "significant progress" advancing the development of the its human retinal progenitor cell (hRPC) therapy candidate in the blindness-causing disease, retinitis pigmentosa.
The company said it is also continuing to progress the clinical development of its CTX cell therapy candidate for stroke disability.
"We are greatly encouraged by the progress we have made with our cell therapy clinical development programmes for retinitis pigmentosa and stroke disability since our interim financial results update last December," Chief Executive Olav Hellebo said.
ReNeuron expects to publish its annual results on July 11.
ReNeuron shares were trading down 5.0% at 292.00 pence each.
Reneuron (RENE)