c/o mol iii site7 Dec 2016 17:04
Extract
2017 – a year of progress
While primary investor focus has been on the read-out of the stroke study, there are a number of other programmes with potential upcoming newsflow. This includes CLI study (Phase I data read-out and Phase II start in H117), RP study (Phase I/II safety and efficacy data read-out 2017) and further preclinical data from the exosome nanomedicine programme and potential move into the clinic in H118.
Valuation: Increased to £278m
Our rNPV-based valuation has increased to £278m (vs £249m) or 9p/share (vs 7.9p), after increasing the probability of success in the CTX stroke programme to 25% (vs 20%) and using H117 reported cash. Our CLI and RP study assumptions remain the same. We have reduced R&D spend in 2017 and 2018 slightly to reflect a lower than expected cash burn in H117. ReNeuron is well funded to execute on its expanding clinical trial programme, including the pivotal controlled clinical stroke study due to start 2017.