Share Name Share Symbol Market Type Share ISIN Share Description
Renovo Group LSE:RNVO London Ordinary Share GB00B081NX89 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 15.625p 0.00p 0.00p - - - 0 06:37:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 4.4 -0.4 -0.3 - 34.23

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Date Time Title Posts
05/8/201421:28Renovo (RNVO) $20 billion per year market8,908
09/1/201216:00Renovo scar healing2
04/12/200910:05SHORT Renovo Down To 15p And Less.27
28/6/200810:30Renovo Group - 2008.49

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123prezzie: Anybody going to the AGM on 11 June? Happens to be my birthday but I'm not expecting any presents from RNVO - they all go to the BOD. This is what I posted on the UFG board last July:- The UFG Directors hold about 14% including share options so, if it is going, let's hope they concentrate on negotiating a good share price and not on getting themselves juicy contracts and share options from Renovo.
alimo: Oops! No wonder the share price fell back again today. What have Brian Cole and David Blain done to deserve these huge performance options? Surely at this stage of our development their salaries are sufficient reward for getting the share price up to 60p? Who knows anything these days - if we get growth and profits that see our share price re-rated to what it could quite easily get to, and much sooner than expected without major input from the two mentioned, then we have gifted a reward that some could say is away beyond what is necessary to give to two men who are probably already wealthy, and could have been better spent by giving shareholders rewards first, in the form of dividends. We were expecting this anyway because UFG were already paying dividends. WE don't need directors who put their needs before shareholders. When we are allowed to know, I think we will find that we are paying these guys very well indeed already, and surely carrots are not necessary until we can see what they are capable of producing. Will FCA come in please. It's only two years ago when we saw the quasi-bio-pharmaceutical products go just for sweeties, they say they work and then they say they don't, and we found that our top brass didn't bring in the gravy and yet they were paid huge sums with very little to show for it. We don't even know how the old RNVO wrapper with its new sweetie inside is performing, so why can directors award themselves these appallingly high sums, when they have not even earned a track record in their new positions. Surely we have to see what they can do first.
gnnmartin: There must be a lot of shareholders from the early days of Renovo for whom the shares are worth more as a tax loss that they will fetch when sold. I hope this is the reason for the weakness in the share price, and I've taken the opportunity to buy. The preliminary report is enthusiastic about the future. Nigel Martin
hollerich1: hold to the last smithy, there is light at the end of the tunnel, as this stands as at today the share price is worth 30p.
alimo: Yeh, who's this Charles Davies and what does he know that we don't. He's gone for a fairly big slice, as many of us give up and go elsewhere. I'm still puzzled about the Juvista mystery. Shire wanted it, and then didn't, maybe after they saw another form of skin regeneration method that on the surface might look to have bigger benefits. But even that method might not turn out to be as good as Juvista. Seems people can make what seems to be big big mistakes, and then just say sorry for spending £millions on research over decades, that convinces the committees of this and that esteemed scientific institution, and then when oops it doesn't work, off they go leaving us to wonder why they bothered to spend a career in researching their baby, which turns out to be a dud. (Or maybe, not such a big dud after all, judging by those who keep wanting to scoop up the shares.) Let us also remember that while MANY shareholders have invested in Juvista because of all the good news that was consistantly reported, a FEW SHORTERS (notice I don't call them shareholders) will have made a real killing when the share price plunged sharply, on two occasions. What we need to know is who the few SHORTERS who profited were, and get their stories. So, could Shire have said to RNVO, we'll let you keep the cash and Juvista, if you ensure Phase III fails and let's us off the hook of the further larger payments that are due? I mean come on, in Nov 2010 we get a RNS saying a separate Juvista Phase III trial for paedriatrics is showing excellent results from the 85 or so young patients. The main trial reports in Feb 2011. And hey-presto it's suddenly a disaster, not meeting any of its end points. So the Phase III trial that cost £millions, that follows on from successful Phase II and I trials (which show pictures that indicate that Juvista works well), is a disaster. In previous and other product trials, we heard about how patients were monitored to observe their scars at interim periods of time eg 26 weeks etc. In the main Juvista PIII trial that cost £millions, was there no interim reporting or observing that would have shown that the end points were failing? There were reports about how they were being successful in finding enough patients for the trial, which had over 300 signed up in multi centres. Surely the results for many of the patients would come in at different times, because some would start their treatment quite a bit earlier than others. Was the Prof's team not privy to, or interested enough to make enquiries about how the Juvista Trial was working? They released the successful Juvista(paediatric) report out of the blue in advance of the on schedule expected H1 PIII report. Good news, for those of us who had been waiting for years, which saw the shares rocket up again, only to be followed three months later with the disasterous news in Feb 2011 which seemed to indicate that Juvista was a load of rubbish. What puzzles me is that Shire might still be holding 12million+ shares. Why, if there's nowt to hope for! Maybe there is much more to come out as the scramble for the intellectual property really starts. Or will the directors that remain (only a few now) have things so tied up and under THEIR control that they will secrete all the IP away for sweeties. Have we time to wait and see, or is there a white knight just waiting to blow the whistles. You've got to have real friends to pull off a plan. Hopefully, our friends are thinking of and minding the investments of all our SHAREHOLDERS, large and small. It will be really interesting if the final Trial results in another DUD. Then I'd ask ......why? But then I'd also ask why, if it is a success, when Juvista(P) is a success, and Juvista isn't.
hollerich1: all of these have been sells and the share price has'nt nose dive, what is fishy.
mudbath: Particularly so,holly_dog,when the RNVO share price seems to be on the turn.Spread betting firms have increased the entry point for "longs" by a full 1.00pence in anticipation of some renewed strength.
flyingswan: Renovo RNVO Share Price has bounced of the lower Bollinger Band in mid October and is now trading above the 20 day moving average: RSI is rising and giving a buy signals, The Fast Stochastic gave a Buy signal on in mid October and is still valid. The MACD is continuing positive and the Volumes of trades are increasing, so as far as I can see all are giving BUY signal. IMHO RNVO chart keeps posting higher highs and higher lows which are forming a good up trend. DYOR
flyingswan: Winners and Losers Crain's Manchester Business - ‎Nov 2, 2009‎ Fund manager Gartmore has been buying up substantial chunks of Manchester-based biotech firm Renovo RNVO through its various funds, and the revelation that it ... - RNVO share price looks to be straightening with rising RSI and recent break to the Up-Side, though the 20 day moving average; forming a Golden Cross. British Bulls is also posting a Buy-If on RNVO so this could be a good time to get in IMHO: Renovo Group PLC Daily Commentary Our system posted a BUY-IF today. The previous SELL recommendation was made on 28.10.2009 (9) days ago, when the stock price was 24.5000. Since then RNVO has gained 2.04% . A bullish pattern has developed and a BUY-IF alert is issued today. You will see if we erred slightly in the previous SELL signal. A confirmation in the next session may mean that we have underestimated the bullish power of the market. The task is now to confirm the validity of this bullish pattern. We will guide you through this process but the Prima Donna of this game is nobody but you. First you must do your homework. A good starting point may be to keep an eye on after-hours and futures trading to get preliminary hints about the direction of the market. Related news, events, economic data, and the world stock markets should also be closely followed prior to confirmation session. There are three possible cases of confirmation. You have to follow the next session carefully to check if these cases will hold or not: The market opens with an upward gap, signaling a bullish sentiment in the first case. Your benchmark will be the opening price. If the prices stay over the benchmark, go long. Any white candlestick with an upward gap is a valid confirmation criterion. In the second case, the market opens at a level, equal to or below the previous day's close. The benchmark is that closing price. If prices during the session stay over the benchmark, go long. Any white candlestick closing above the previous day's close is the second confirmation criterion. If, however, in both cases, the prices during the session start coming below the benchmark, avoid buying. Sell if you feel a definite tendency in prices to close the day below the benchmark. The third case of confirmation is rarely observed. The market opens with a big downward gap suggesting a very bearish day, and the day ends with a long white candlestick, but still closing below the previous day's close. However, such a day satisfies the third confirmation criterion and in this case the closing price of the long white candlestick will be taken as the price of confirmation. If one of the three confirmation criteria is not fulfilled, or in case of a black candlestick or a doji on the confirmation day, the BUY-IF alert remains valid, however without confirmation and the three confirmation criteria are then sought in the following day. The only exception is the long black candlestick. Any long black candlestick following a BUY-IF alert makes it (the signal) void and invalid. Do not consider any new short positions given the bullish alert and the recent bullish momentum. Short sellers must cover their positions to prevent further losses, if the market confirms the BUY-IF signal.
pork belly: For anyone new to RNVO: --------------------------------------------------- THE REASON FOR THE FALL IN SP RNVO have 4 products in the pipeline. The share price was above 200p quite recently and from Jan - 02 Mar 08 was trading at between 130p- 150p. On 03 Mar 08, RNVO announced the results of 2 trials for Juvista - a product outlicensed to Shire Pharma. The first trial,using a TWICE daily dose was good, the second trial, using a ONCE daily dose was no good. It was this second trial that cast doubt on RNVO's most significant product - Juvista. As a direct result of this the share plummeted immediately to 56p by the end of the day and has slowly dwindled to the present sub 30p level. --------------------------------------------------- WAS THE DROP JUSTIFIED ? On 04 Mar 08, Panmure set a new target of 120p saying "sales estimates have been reduced by 22% to $1.4 billion". Thats still a MASSIVE $1.4 billion ! Also on 04 Mar 08, JP Morgan issued a note saying "The fall in Renovo's share price following this news appears unjustified" and set a new target of 100p. Remember, they believed the fall was "unjustified" when the share price was 54/56p ! Again, on 04 Mar 08, Hoodless came out with a note saying "Shire could view a buyout as offering better value alternative to sticking with the licensing deal terms requiring payments of circa $825m.". A clear hint that some analysts expect Shire, at some point, to make a bid for the company. On 10 Apr 08, Cannacord initiated coverage with a "BUY" recommendation and 79p target saying " Renovo's share price declined sharply in 1Q08, with Juvista missing an endpoint in a trial...however, that Juvista's commercial potential is significant.". ------------------------------- SO WHAT DID SHIRE PHARMA SAY AFTER THIS "FAILED" BREAST TRIAL ? Shire results - 25 Apr 08 JUVISTA(R) - Improvement of scar appearance "In August 2007 Shire acquired the exclusive rights to develop and commercialize JUVISTA worldwide (with the exception of EU member states) from Renovo Limited ("Renovo"). JUVISTA, being investigated for the reduction of scarring in connection with surgery, is in Phase 2 development. Nine Phase 2 efficacy trials for JUVISTA have now been reported of which seven demonstrated statistically significant efficacy. Phase 2 clinical trials in multiple other surgery types are ongoing and are expected to report during 2008 and 2009. Shire is currently undertaking a comprehensive assessment of all results produced with JUVISTA to date and plans to seek external regulatory and other expert advice before confirming its path forward for JUVISTA in the United States and other potential markets." The point above being that the recent "breast" trial failure that resulted in the share price crash to current levels was one of only 2 "failures" and even this one was simply because the trial was carried out on a ONCE daily dosage instead of the usual TWICE daily dosage that gives good results. This was further confirmed by Professor Mark Ferguson, Chief Executive Officer of Renovo here : MOST IMPORTANT OF ALL THOUGH : There were still 7 (SEVEN) successes prior to this and Shire are fully aware that this trial only failed due to insufficient ONCE daily dosing. ----------------------------------------------------------- THE CASH INTERIM MANAGEMENT STATEMENT 15 Feb 08 cash and cash equivalents with term deposits maturing within one year as at 31 December 2007 was £93.8m, compared to the £100.7m previously reported as at 30 September 2007.The difference of £6.9m primarily reflects the cash invested in operations, in particular the continued development of the Company's drug portfolio." In other words, in the 3 months from 30 Sep 07 - 31 Dec 07, they used £7m. Thats £2.33m/month. Next Thursday RNVO announce their next results. Thats 5 months since they said they still had £93.8m cash. At £2.33m/month burn, then they still have around £82.15m in cash left. There are currently 189,548,985 shares in issue (correct at 22 May 08) giving a £56.4m Mkt Cap at the current share price of 29.75p. This means that cash of £82.15m is worth 43p per share (82.15 / 189.548985) compared to its current Mkt Cap of £56.4(@ 29.75p). ----------------------------------------------------------- CONCLUSION * This company is still trading at a significant discount to cash, worth 43p per share * Results next week should highlight the cash position and put RNVO back on the radar. * The Juvista "failed" trial only failed at the ONCE daily dose and 7 out of the 9 trials so far have proven SUCCESSFUL. * Hoodless suggest that Shire may well buy-out RNVO as its a far cheaper option than paying them milestones worth $825m. So a bid seems more likely than not imho. * JP Morgan believes the fall in share price is "unjustified" and set a 100p target. * Panmure have a target of 120p and say the markedt for Juvista alone is worth $1.4 BILLION...and thats without the other 3 products ! * Cannacord have a target of 79p and believe that even after the "failed" breast trial that the "commercial potential is significant." Even if the company announced that all 4 products failed next week and the company went bust....they would STILL have around £82m (43p per share) in the kitty ! You are currently paying 29.75p for 43p and getting an entire company, with a potential market of $1.4 BILLION for just one of their products...FOR ABSOLUTELY NOTHING !! ----------------------------------------------------------- WHAT THE BROKERS THINK Renovo "buy," target price reduced 03/04/08 - Panmure Gordon & Co LONDON, March 4 - Analysts at Panmure Gordon reiterate their "buy" rating on Renovo Group Plc (RNVO-GBX). The target price has been reduced from 193p to 120p. In a research note published this morning, the analysts mention that the phase II breast augmentation trial results for the lead product candidate, Juvista, were disappointing. Renovo has, however, announced positive data from a phase II trial in scar revision, the analysts say. The peak sales estimates have been reduced by 22% to $1.4 billion, to reflect the assumption of exclusion of the cosmetic market from Juvista's profile. -------- Renovo "overweight," target price reduced 03/04/08 - J.P. Morgan Securities LONDON, March 4 - Analyst Annie J Cheng of JP Morgan maintains her "overweight" rating on Renovo Group Plc (RNVO-GBX), while raising her estimates for the company. The target price has been reduced from 235p to 100p. In a research note published this morning, the analyst mentions that the company's Juvista drug has failed to work for breast augmentation. The fall in Renovo's share price following this news appears unjustified, since Juvista has a biologic effect, the analyst says. The risk to the company's goal to bring to the market a single dose of Juvista for all surgical settings has risen, JP Morgan adds. The EPS estimate for 2009 has been raised from -15.12p to -14.98p. -------- Hoodless Brennan "speculative Buy" RNVO sp: 60p 04 Mar 08 Renovo Group is a biopharmaceutical company specialising in scar reduction research and the development of drugs to reduce scarring. Its lead drug, Justiva was the subject of an exclusive licensing deal with Shire Pharmaceuticals (LSE:SHP) in June 2007 to develop and commercialise Justiva. Under the terms of that agreement, Renovo earned upfront fees of $125m plus milestones worth $825m in addition to retaining the rights to Justiva in the EU Executive summary A panel has ruled that Justiva's performance in reducing patient scarring (in breast augmentation application) was not significantly better than the placebo on a single dose test. This is a major blow to the credibility of Justiva in reducing post operative scarring and increases its reliance on the remaining portfolio ex Justiva ie Prevascar (phase II), Juvidex (phase II), Zesteem (phase III) Zesteem, (split thickness skin grafts) is on track to report phase 3 results in H2 2008 appears the most proximate clinical report; however has not generated the same excitement as Justiva despite its earlier anticipated launch date due to its small market size. The chief executive, Professor Mark Ferguson is maintaining that the failure of the single dose trial does not preclude a better result at higher dosage levels and furthermore that the result, in itself, does not endanger the Shire collaboration. Whilst this appears credible short-term, (no news from Shire presumably is good news), there does not appear to be institutional pressure for changes in the composition of the board of directors or appetite for strategic changes post the Shire collaboration. The fall in the share price reflects disappointment over the second major stumble for Justiva and uncertainty over the Shire collaboration? Short-term we expect Shire to stick with Justiva phase II/III plans. Renovo's valuation has collapsed to £114m; one third its level of November 07. Shire could view a buyout as offering better value alternative to sticking with the licensing deal terms requiring payments of circa $825m. Net cash stood at £93.8m end December 2007; this should provide significant support to the valuation reducing the risk of substantial further downside. Strengths *82% of market cap is collateralised by cash/ limited further downside at these levels *Possibility of Shire buyout given savings between licensing deal $825m and buying Renovo *Justiva trial adjustments could result in improved results; good result for scar revision Weaknesses *Prospect of further setbacks in Justiva trials *Lack of short-term drivers in balance of development portfolio; Zesteem report in H2 2008 -------- Renovo initiated with "buy" 04/10/08 - Canaccord Adams LONDON, April 10 - Analysts at Canaccord Adams initiate coverage of Renovo (RNVO-GBX) with a "buy" rating. The target price is set to 79p. In a research note published this morning, the analysts mention that the company has four compounds in different staged of clinical development. Renovo's share price declined sharply in 1Q08, with Juvista missing an endpoint in a trial, the analysts say. Canaccord Adams adds, however, that Juvista's commercial potential is significant. --------
Renovo share price data is direct from the London Stock Exchange
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