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ReNeuron Shares Surge 10.2% as Phase IIa Trial Begins

Simon Mugo trader
Updated 10 Sep 2020

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Shares of ReNeuron Group Plc (LON: RENE) today surged 10.2% after the company announced that it had started extended phase IIa trials of its hRPC cell therapy for retinitis pigmentosa, a degenerative eye condition.

The company which specialises in stem-cell research today announced that it had started dosing procedures within the US and that the expanded phase IIa trial will include at least nine people who will receive higher doses of the hRPC cell therapy.

Ten patients are already participating in the study, which will raise the total number to nineteen patients, distributed across the UK and America. Further results will be published in the next 12 months.

The hRPC treatment has been granted orphan drug status in both the US and Europe with the US Food & Drug Administration (FDA) giving it fast-track status, which bodes well for the treatment.

ReNeuron share price

Tradingview chart of Reneuron share price 10092020

ReNeuron shares today surged 10.2% to trade at 99p having ended Wednesday’s session trading at 89.8p.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading