The stem cell research Company will begin the next phase in its stroke disability clinical study.

Companies: ReNeuron Group plc


ReNeuron (LON: RENE) has been given FDA approval to commence the next phase in its US clinical stem cell study to help those who've suffered a stroke.


The trial will take place at 15 sites in the US over 6-12 months, with 110 patients who have a post-stroke disability to enter into the study. The trial will compare the effects of the Group's CTX therapy versus a placebo treatment 6 months post-treatment.


Commenting on the FDA approval, Group CEO Olav Hellebø said:


"We are delighted to have received regulatory approval to commence our first clinical trial in the US with our CTX cell therapy candidate for stroke disability.  No therapeutic interventions are currently available to improve motor function and quality of life for disabled stroke patients.  This important clinical trial represents a further step towards potentially meeting that very significant unmet need."

The Group also announced its H1 18 Interims this morning which detail the Group's progress across its stroke, retinal disease and nanomedicine trials.


It opened an office in Boston earlier this month while also receiving two government grants totalling £3.5m.


Losses for the period grew to £9.5m, however, the Company's balance sheet remains healthy with £45m in cash and cash equivalents.


Shares in RENE jumped 9% on Thursday morning after the two RNS releases.


Broker N+1 SInger's note on the Group today said:


"We remain upbeat and look forward to the upcoming newsflow from ReNeuron’s pipeline...


We update our forecasts this morning to better reflect the development plans... We now forecast a net cash position of £30.0m for 31 March 2018 (previously £21.6m)."

Singers also forecast the Group to report its first Revenues of £9.7m in FY2020.



The information contained within this post is based on personal experience and opinion and should not be considered as a recommendation to trade nor financial advice.