Redx has emerged from administration with a refocused R&D pipeline and in a very clean financial state with £13.6m net cash in the bank. The group’s strategy has been validated by the successful disposal of its pre-clinical programme BTK for $40m. The new Board & Management team will focus resources on the early clinical development of its next two lead candidates, in oncology and fibrotic disease, which are expected to start Phase I trials in 2018 and 2019, respectively. There was an inevitable knee-jerk reaction when the shares were re-quoted but consideration should be given to the potential value within the focused pipeline.
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