Welcome to our dedicated page for Renalytix Plc news (Ticker: RNLXY), a resource for investors and traders seeking the latest updates and insights on Renalytix Plc stock.
Renalytix Plc (RNLXY) is an AI-driven diagnostics leader focused on transforming kidney disease management through innovative prognostic testing. This news hub provides investors and healthcare professionals with timely updates on company developments, regulatory milestones, and clinical advancements.
Access centralized information on earnings reports, strategic partnerships, product innovations like the kidneyintelX.dkd test, and FDA authorizations. Our curated news collection supports informed decision-making by delivering accurate updates aligned with value-based care principles.
Key content includes analysis of financial performance, coverage of research initiatives, and insights into Renalytix's role in advancing early detection technologies. Bookmark this page for reliable updates on how RNLXY continues to shape AI-enabled diagnostic solutions in nephrology.
Renalytix reported financial results for Q1 FY2025. Revenue reached $0.52M, up from $0.46M in Q1 FY2024. Operating expenses decreased over 50% to $4.2M from $8.8M year-over-year. Net loss reduced to $4.7M from $10.1M in the prior year period. The company secured £11.8M (approximately $14.9M) in equity financing commitments and restructured liabilities. Revenue guidance was issued: $3.2M for FY25, $8.5M for FY26, and $17.5M for FY27. Cash burn is expected to reduce to approximately £560,000 ($725,000) monthly by FY2025 end.
Renalytix plc (LSE: RENX) (OTCQB: RNLXY), an AI-enabled in vitro diagnostics company focused on kidney disease management, has announced the commencement of trading of its American Depository Shares (ADSs) on the OTCQB Venture Market under the symbol 'RNLXY' effective October 8, 2024. This move follows the company's decision to downlist from Nasdaq to reduce costs and redirect capital towards commercialization efforts.
CEO James McCullough stated that recent steps to improve the balance sheet through financing and restructuring have positioned the company to pursue strategic goals towards improved profitability. The transition to OTCQB, along with continued listing on the London Stock Exchange, is expected to significantly decrease general and administrative costs, allowing Renalytix to focus on growing sales of kidneyintelX and delivering shareholder value.
FAQ
What is the current stock price of Renalytix Plc (RNLXY)?
What is the market cap of Renalytix Plc (RNLXY)?
