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https://www.edisongroup.com/publication/continuing-to-gain-clinical-data-in-eye-disease/28643/
Prospero - that is an admirable hold, really hope the company delivers for the true long term holders like yourself. I've 'only' been in a couple of years, and even that feels like a rollercoaster of a ride. Happy to have significantly increased my stake during the open offer.
I have only recently come across this company and have taken a small position, with a view to expanding this significantly if the market offers an opportunity to get in lower. Had a quick look at this board and I'm surprised how quiet it is given the recent share price performance and the potential on offer.
Good summary thread posted on Twitter yesterday evening; worth a read whether you are new to the share or been here a while:
https://twitter.com/hareng_rouge/status/1348748130427285504
Positive start to the week, the bear market appears well and truly broken now, looking forward to the weeks and months ahead.
Onceaday, I think you need to read my post again.
You're saying that you think Olav and MH have significant investments, given their likely wealth. What I tried pointing out before is that Olav had around 22k shares prior to the open offer, and MH had around 30k shares.
Therefore, during the open offer, Olav more than doubled his holding, and MH increased his by around 80%.
The point I'm making is that not all directors behave the same way. I've seen companies where the business is basically failing, and the directors are buying shares in bulk, to try and give investors confidence.
Then you get successful companies where certain directors don't really get involved in buying shares, yet others are hoovering them up. It's horses for courses. Olav and MH have both spent around 10% of their annual net salary on buying shares in the open offer, so it's hardly like it's a token gesture, even when it's put in the context that you are trying to portray.
Regarding timescales, I think given the global pandemic circumstances, we can forgive them (and the patients and doctors, more importantly) for not being perfectly punctual.
Yes and no. The number of shares may seem relatively trivial in the context of their earning, however for Olav it represented more than doubling his holding, and MH increasing his holding by around 80% or so, by my reckoning.
Non-exec directors (Mark Evans and Christopher Evans) collectively picked up around £1.2m worth of shares, with Rolf Elgeti (Obotritia Capital) picking up around £800k worth.
Richard Griffiths picked up 5% of the company, Octopus a similar amount. I think Schroders bought into the offer as well, from memory.
Not all company directors are active holders or investors, you see a wide range of different approaches across different companies. The non-exec directors and institutional investors here (including some high calibre ones of note) showed confidence in the raise, and for me, that's a strong endorsement.
Clive; I agree with most of what you have said there, however, the price appears to have broken out of an 18 month bear market after several failed attempts. This in itself should be enough to drive the share price forward (potentially significantly) as traders (not investors) will start moving money in. Couple this with the Q1 pipeline of news indicated by the company, and we could be in for an interesting few months.
Also worth bearing in mind that this company remains significantly undervalued compared to its peers (both retinal and exosome programmes), and is still trading at a MCAP roughly 30 or 40% shy of what it was 18 months ago when the bear market began.
I see myself as an investor in this company as opposed to a trader, but certainly hold no objection with new money coming in and identifying the clear potential that exists here. The more the merrier, as far as I'm concerned.
http://www.reneuron.com/presentations-list/investor-presentation-6-january-2021/
Just finished watching the presentation. Don't have time right now to summarise, but I'm sure there will be some discussion over the course of the next few days as people catch up with it.
Overall impressed with what was discussed/presented, Olav sounding really rather bullish about the prospects for the forthcoming 12 months and the opportunities available. I think they also provided some useful context for the fact that Luxturna is administered via sub-retinal injection, and they are confident that this approach is the most suitable. Jcyte got got discussed quite a lot, and Olav appeared rather dismissive of their data in general.
Well, this is the breakout attempt. If this move can hold, then an 18 month bear market will have been broken and the momentum will have shifted from selling to buying. If the move is sustained, don't give away your shares cheap!
The charts are looking like a coiled spring IMO. We're at resistance now, if it breaks through this level and holds (say 98 to 100p), then money will begin to pour in and it will rerate. It's been in an 18 month bear market, so if/when the resistance finally gets broken, it could move extremely quickly indeed.
Divergences on the RSI, cross over on the MACD (both daily and weekly), I don't want to curse it, but it does look like it's ready to pop. Analyst briefing tomorrow could well be the catalyst.
Hi Grizzlyb - I agree, unusually specific info for the company to release. I've just been digging around now and found the document:
http://www.reneuron.com/wp-content/uploads/ReNeuron-corporate-presentation-Dec-2020.pdf
First I've ever seen of it (aside from the screenshot from that tweet this morning), going to have a proper read now. Perhaps it has been sent to analysts prior to the briefing of the 6th Jan?
With regards to that final point about proof of concept for exosomes, I've previously posted the following on this forum:
'Olav has posed the question in the end of year results about "what makes these exosome developments different to ours?" (referring to why the likes of Codiak and Evox have been able to sign collaboration deals worth potentially billions of pounds). He went on to answer "proof of concept data in an animal model", which the company is working "feverishly" on both in house and in collaboration with major pharmas. He went on to describe Rene as having "several shots on goal in the next 6 months" and if we hit one, then it goes a long way to "validating the entire exosome platform".'
That was in relation to the CEOs comments in the end of year results presentation (20th July 2020; https://webcasting.buchanan.uk.com/broadcast/5f154afa4c167c1215797e02/5f16a8af75c33f15e4928d03). If you want to watch that video, and specifically the bit about exosomes, then navigate to around the 31 minute mark on the link above.
The point I'm making is that the company is now expecting to deliver proof of concept data in Q1 of 2021, and this opens the door to deals that could be similar to those signed by Codiak and Evox, examples being:
- Codiak/Sarepta ($72.5m upfront)
- Evox/Lilly ($20m upfront, $1230m total based on targets)
- Evox/Takeda ($882m)
- Codiak/Jazz ($56m upfront, $1076 total)
For Rene, a company with an MCAP of around £50m, figures remotely like those are staggering. Also bare in mind that exosomes have never been the primary objective for the company. The main platform is hRPC, and before that CTX (both ongoing and highly promising programmes in their own right).
For context, Codiak (a pure play exosome company) IPO'd on the NASDAQ a few months ago for around $83m, and is now worth around $550m.
Referring back to the link if posted earlier, for some reason it doesn't go direct to the actual post I was referring to, you have scroll down slightly to see the screenshot showing 'Material value inflection points . . . '
Anyway, for Q1 2021 the following events or potential inflection points are anticipated by the company:
- RP Phase 2a - 12 month data on all subjects (I think this will be discussed during the analyst briefing on the 6th Jan)
- Further pharma collaborations (specifically shown as early Q1 2021, which is very interesting to note).
- RP Phase 2a expanded study - first non-US patient to be treated.
- Proof of concept data for delivery of siRNA by CTX derived exosomes.
So all the above is anticipated to occur in Q1 of 2021, according to Rene, with plenty more projected for the rest of the year also. Looking like an exciting ride, with any luck.
Happy New year all.
I don't really use twitter aside from the occasional search for rene. What I have noticed is increasing discussion on that platform, and I do believe it is generating quite a lot of new interest in the company, which is good to see.
A tweet I notice this morning is linked below. Not sure exactly which presentation this is a screenshot from, but it does provide some very interesting info with regards to projected timescales for certain activities, which I don't believe I have seen previously.
https://twitter.com/sharesearch_/status/1346017118630895616?s=09
Think exosomes have the potential to be huge, time will tell if rene are part of that space. Codiak are now listed on the nasdaq after an IPO a few months ago, and I've recently taken a position in them also.