4th Jul 2022 10:22
ReNeuron Group PLC - Bridgend, Wales-based stem cell and exosomes technology company - Pretax loss in year to March 31 narrows to GBP11.1 million from GBP13.4 million loss a year prior. Research & development costs fall to GBP8.1 million from GBP9.5 million, with general & administrative costs at GBP3.6 million versus GBP3.7 million. Revenue drops to GBP403,000 from GBP257,000.
Chair Iain Ross says: "During the period tough decisions have been taken, the business model re-focussed and the board and management team strengthened in line with our future goals."
Following a strategic review in January, company now fully focused on expanding its proprietary customisable exosomes platform.
"Personally, I have been most impressed with the competence, resilience and determination of the ReNeuron team and look forward to driving the business forward, executing a realistic plan and achieving meaningful milestones over the next 12 months," Ross adds.
Current stock price: 27.45 pence
12-month change: down 75%
By Paul McGowan; [email protected]
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