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ReNeuron Group PLC - Bridgend, Wales-based stem cell and exosomes technology company - Pretax loss in year to March 31 narrows to £11.1 million from £13.4 million loss a year prior. Research & development costs fall to £8.1 million from £9.5 million, with general & administrative costs at £3.6 million versus £3.7 million. Revenue drops to £403,000 from £257,000.
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%
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