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AIM-listed stem cell specialist ReNeuron (LON:RENE) announced a reduced loss of £5.32 million for the six months ended 30th September, down from £9.57 million in the equivalent period of last year. Clinical trials for its two treatments are ongoing and they are expected to deliver top level results between mid-2019 and early 2020.
Chief executive Olav Hellebø said: “Our therapeutic development programmes have continued to progress well during the period. We are particularly excited to have opened the placebo-controlled Phase IIb clinical trial in the US for CTX in chronic stroke disability. We remain encouraged by the progress made in partnering discussions across all of our technologies and programmes and we hope to be able to conclude an initial out-licensing agreement in the near term.
“We have continued to maintain tight control over our operating costs, reflected in the financial statements for the period. Our cash position remains robust and we are positioned to deliver significant clinical milestones in our stroke and retinitis pigmentosa programmes over the next 18 months.”
The price of ReNeuron shares rose by 5.38% to 54.80p (as of 10:45 GMT).