Renalytix AI (GB:RENX) has released an update.
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Renalytix PLC has reported a significant reduction in its net loss for the first quarter of fiscal year 2025, down to $4.7 million from $10.1 million in the previous year, thanks to cost-cutting measures and successful equity financing. The company has strengthened its financial position with a £11.8 million commitment and aims to drive revenue growth through its AI-enabled diagnostics for kidney disease. With sufficient cash reserves, Renalytix is poised for a promising fiscal year, focusing on commercial expansion and better patient outcomes.
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