Anyone else in Renovo?

49p of cash, trading at 35p.

If Juvista is approved later this year then license fee of $825m in the bank
(approx 7 x current share price)

Rest of the pipeline thrown in for nothing...

bayliss - that is one grim chart!!

Renovo shares plunge after Juvista trial failure


Shares in biopharma company Renovo Group plc dropped sharply after it announced the failure of its key Juvista scar-healing product in Phase III trials.

Renovo said the first EU Phase III trial for Juvista in scar revision surgery did not meet its primary or secondary endpoints.

The company would conduct further exploratory analysis and determine the future of the Juvista development programme.

CEO Professor Mark Ferguson said, 'We are extremely surprised and disappointed by the failure of Juvista to meet the Phase III trial primary and secondary endpoints.

'The board of Renovo will now consider all options open to it to maximise shareholder value.'

Shares were down to 17p at close.

hlyeo - yep - word is current cash is about 23-25p : i may well buy back in here monday from what i have heard:
1/ rnvo will continue and see if it is feasible to continue with juvista at all - major set back - however i would expect not due to the costs of continuing and the costs of the other trials due h1 2011
2/ Shire the jv have invested around 80M to date with rnvo and in fact there are whispers that Shire may t/o rnvo - i would like that if i can get in cheap enough again!!!
3/ rnvo will be wound up and cash back to share holders - which seems pretty good option also

all this should be decided pretty quickly - no more than 3 months imo

gla

To buy back in here you need to have your finger on the sell button 24/7

indeed - salient point driver

he who dares and all that.....

gibby
It didnt bounce but VAL had a good day 210% and so did RRR

driver - i must admit rnvo surprised me today - i saw l2 this morning and left it thankfully - went elsewhere and thankfully val did the business beyond my hopes - not unlike sar last week - so very good day hope you got some of that too - rrr yes great news great share - wont be selling up there any time soon - quite the opposite in fact - bmr was up earlyish today sold about half and bought back, was expecting more of ahh but hey ho - i hope you had a good day

will watch rnvo again tomorrow - but really it needs something pretty strategic like a t/o or they may need to wind up and return cash to share holder - we'll see
cheers

well rnvo been valued at 30p......

http://www.proactiveinvestors.co.uk/columns/broker-spotlight/4553/broker-roundup-gulf-keystone-petroleum-rockhopper-exploration-planet-payment-renovo-4553.html