25 May 2012

ReNeuron updates on stroke trial

27/05/2011 Ben Jaglom

Stem cell therapy concern ReNeuron Group (RENE) has announced that it has completed dosing in the first cohort of patients in the PISCES clinical trial of its REN011 therapy for disabled stroke patients.

The AIM-quoted pharma minnow treated the last three patients in the first cohort earlier this month, noting that they were 'safely discharged from hospital two days later.' The study sees a total of 12 people who have been left disabled by an 'ischaemic stroke' - the type of condition that causes the vast majority of strokes and which takes place when there is a blockage within one of the blood vessels supplying blood to the brain.

The company has certainly not been short of newsflow of late with the latest announcement following on from ReNeuron's report earlier in the month that it will be participating in the 17th International Society for Cellular Therapy Annual Meeting in Rotterdam. There was also another release a week earlier in which it enthused that it was pleased to note the UK government is looking to create a cell therapy centre in the UK.

Shares in ReNeuron currently trade at 4.85p, having slumped from a 52 week high of 9p. An enterprising company, its technology has been the subject of much investor attention this year, possibly due to the re-rating taking place at the micro-cap end of the AIM pharma sector as much as due to its consistent newsflow and lowly price. At the current price we think the shares hold speculative potential. Speculative buy.

Tags: Disabled stroke patients, Penny shares, Pharma, PISCES clinical trial, Stem cell therapy

Sector: Pharmaceuticals & Biotechnology

Companies: ReNeuron

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