Reneuron Share Discussion Threads

[tomboyb] 05/2/2024 14:33

5 February 2024



ReNeuron Group plc

("ReNeuron", the "Group" or the "Company")



Corporate update and suspension of trading on AIM



ReNeuron Group plc (AIM: RENE), a UK based leader in stem cell derived exosome technologies, provides the following update in relation to its current business development, financing discussions and working capital position.



On 8 November 2023, the Group announced its Interim Results for the six months ended 30 September 2023 ("Interim Results"). At the time, the Board stated that the outlook for the business remained positive provided it could retain its' highly dedicated team of scientists, further develop and verify the CustomEX™ exosome delivery platform and conclude validating industry partnerships.



As also announced in the Interim Results, potential corporate actions that were under consideration by the Board included raising additional equity financing and/or securing a financing facility and/or entering into M&A discussions. The Group also noted in the Interim Results that as at 30 September 2023, the Group had cash, cash equivalents and bank deposits of £5.1 million and that the Group's latest internal projections (assuming no new revenues or funding) meant there was a cash runway to April 2024, ahead of which point further revenues and/or a capital injection would be required.



In the intervening period, despite great scientific progress having been made in further developing and exemplifying the CustomEX™ exosome delivery platform and progressing several ongoing third-party business development discussions, the Group has not yet been able to conclude a validating, revenue generating industry partnership nor been able to secure additional equity funding. Accordingly, throughout the period the Group has been carefully managing its working capital, but it is now in a highly constrained financial position and requires additional financing urgently, in order to continue as a going concern. In the absence of any additional financing being available in the immediate term, the Group now needs to take steps to preserve and maximise value for its creditors.



Whilst the Group continues to explore a number of corporate options, including seeking to realise value for its physical and intellectual assets, the Board recognises that in the absence of an immediate injection of capital and in view of the current financial uncertainty, it needs to put staff at risk of redundancy, initiate discussions with its creditors and establish the precise solvency status of the business. Should the Company fail to achieve a solution in the short term, the Board would have no option but to place the Company into administration. Should administrators be appointed, it is not known how much, if any, value would be returned to shareholders.



In light of the above, the Company has requested a suspension of trading in its ordinary shares on AIM pending clarification of its financial position. Trading in the Company's ordinary shares has been suspended at 2:30 p.m. today and further updates will be provided in due course.



Enquiries:

[tomboyb] 05/2/2024 14:32

Gone -!

wow!

[dave4545] 05/2/2024 10:00

Unbelievably manipulated stock.

[luckyabbeygale] 05/2/2024 09:52

Fake drop since they still wanting 4p for £5000 worth.

[philh75] 02/2/2024 15:27

Someone is keen to accumulate then?

[dave4545] 02/2/2024 14:43

mm's do not want to give this even the slightest of nudges even though there's very little stock around and full offer to buy

[bonzo] 05/1/2024 15:43

People certainly will want exosomes, the question is do they want these ones?

[dave4545] 05/1/2024 14:47

So many bio/pharmas today have intraday charts like this.

Spike and get chased up then all the day traders bail out again.

Back down to 4.6p and I could not get a quote to buy 10k so clearly at this
level the mm are scooping up the traders stock ahead of another run

[dantee] 05/1/2024 12:43

Having held this stock several times over the years im shocked to see how its played out and how the company has been managed,i last sold this for over 120p for a 45% profit...how times have changed.

This stock is now about as attractive as the wifes catflaps after a dodgy Biryani,we know they had to halt a cashraise last year due to lack of interest and now only have a cash runway till april.

In this market expect a severe discount on next needed placing - shorters will be circling all over this IMO

[blackhorse23] 05/1/2024 10:51

Switched to dividend healthcare stock APH , looking good

[richtea2517] 05/1/2024 10:33

I'm out Lobster tonight lol

[small crow] 05/1/2024 10:30

Perhaps, just perhaps, someone out there wants exosomes?

[glavey] 05/1/2024 10:09

Gentlemen (and any ladies present), Please would you all pump this a lot harder. About ten times harder to put that in context. I realise it's a tall ask as it's Friday and you are all wanting to earn a fish supper but maybe you can leave 'something for the weekend' before withdrawing your tuppences around lunchtime. Many thanks.

[firestarter1] 05/1/2024 10:05

26m Mcap crazy

[rogen83] 05/1/2024 09:51

Decimal point ?

[dave4545] 05/1/2024 09:51

Money to be made in this sector, they could not give the stock away this week at 3.4p today it's 5.2p bid

[terminator101] 05/1/2024 09:51

The crew have done well to spike this pedestrian pish off the back of angl.

[philh75] 05/1/2024 09:50

£2.3m fire starter, I recommend you get your decimal places in the right place if you are going to short!

[firestarter1] 05/1/2024 09:47

Short added as Mcap is £23m and they have only 5m cash

[richtea2517] 05/1/2024 09:39

Ha ha - let the fun commence

[firestarter1] 05/1/2024 09:30

Another one being pumped on the back of agl