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Renalytix AI ( (GB:RENX) ) has issued an update.
Renalytix plc announced updates during its AGM, highlighting the success of a recent £11.8m funding round and a strategic refocus aimed at delivering scalable revenues with a reduced cost base. The company emphasizes its FDA-approved, Medicare-reimbursed kidneyintelX.dkd test, which is recommended in international clinical guidelines and now available to approximately 14 million US diabetic kidney disease patients. The firm is leveraging an integrated sales approach with electronic health record systems to increase test adoption and efficiency. Renalytix aims to reduce cash burn by mid-2025 and expects to achieve a $3.2m revenue target for the year ending in June 2025, aligning management and shareholder interests through incentive plans.
More about Renalytix AI
Renalytix is an artificial intelligence-enabled in vitro diagnostics company focused on optimizing clinical management of kidney disease. The company has received FDA approval and Medicare reimbursement for its kidneyintelX.dkd test, which is commercially available in the United States to aid in early-stage risk assessment for chronic kidney disease.
YTD Price Performance: -46.67%
Average Trading Volume: 4,266
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $39.99M
See more insights into RENX stock on TipRanks’ Stock Analysis page.
