Renalytix AI Plc (GB:RENX) has released an update.
Renalytix AI Plc, an AI-enabled in vitro diagnostics company, has reported its financial results for Q3 of FY2024, highlighting the commercial progress of its KidneyIntelX product and significant cost reductions. The company noted a Medicare coverage draft for KidneyIntelX, a 33% increase in test order volume from primary care physicians, and a drop in operating expenses leading to a reduced net loss compared to the previous year. Additionally, Renalytix has initiated a strategic sale process and completed equity financing to bolster its cash position.
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