Investor focus is currently on the readout of ReNeuron’s Phase II stroke disability study with its CTX cells, due in Q416. Alongside this there are a number of other data readouts and progression of its pipeline potentially in the near term. ReNeuron has significant financial resources to support its broad clinical development programme over the next two to three years. Adjusting for cash, strengthening of the $:£ exchange rate and revised clinical timeline for CTX in stroke (patient recruitment completed in June 2016), we raise our rNPV to £249m (vs £233m).
