8th Nov 2023 12:21
(Alliance News) - ReNeuron Group PLC on Wednesday reported a slight narrowing in interim loss as costs decreased, as it highlighted its focus on its exosome delivery platform.
The Brigdend, Wales-based stem cell and exosomes technology company said in the six months to September 30, pretax loss narrowed 15% to GBP3.2 million from GBP3.8 million a year prior. Revenue declined to GBP157,000 from GBP438,000.
Research and development costs decreased 27% to GBP2.2 million from GBP3.0 million, while general and administrative costs were 26% lower, at GBP1.3 million versus GBP1.7 million.
Looking ahead, the company said its outlook remained positive as it focused on further developing and verifying its CustomEX exosome delivery platform, and conclude validating industry partnerships.
Exosomes are extracellular vesicles generated by all cells. They care proteins, lipids, nucleic acids and metabolites.
ReNeuron Group shares were 2.1% lower at 5.24 pence each on Wednesday afternoon in London.
By Tom Budszus, Alliance News reporter
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