Renalytix (Reg S) (RENX)

Sector:

Health Care

Index:

FTSE AIM All-Share

 8.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 52.50
  • 52 Week Low: 8.00
  • Currency: UK Pounds
  • Shares Issued: 165.93m
  • Volume: 0
  • Market Cap: £13.27m
  • RiskGrade: 348
  • Beta: 0.02

Renalytix terminates formal sale process

By Josh White

Date: Tuesday 20 Aug 2024

LONDON (ShareCast) - (Sharecast News) - Renalytix, a company specialising in artificial intelligence-enabled diagnostics for kidney disease, announced the termination of its formal sale process on Tuesday.
The AIM-traded firm said the decision was made after an assessment by the board, which concluded that there was no realistic prospect of an acquisition offer for the company's issued and to-be-issued share capital in the near term.

It initiated the process in March after an unsolicited approach from a large, unnamed publicly-listed diagnostics company.

The company said it remained committed to its strategic goals, and was in advanced discussions with key stakeholders who had expressed support for Renalytix's refreshed business plan.

It said the plan was focussed on targeted investment, reduced operating costs, and establishing a suitable capital structure.

Renalytix said it aimed to maximise shareholder value, and would continue to explore options to achieve that.

Renalytix said it had achieved significant milestones in 2024, including FDA approval and Medicare coverage for its KidneyIntelX.dkd test, priced at $950 per test.

Those developments reportedly positioned the company for potential revenue growth over the next three years, contingent on securing further funding and developing commercial partnerships.

The company reported an unaudited cash position of $4.7m as of 30 June, with a cash runway extending into the fourth quarter, following successful financings earlier in the year.

Renalytix said it would provide further updates as its strategic initiatives progressed.

At 1014 BST, shares in Renalytix were down 20.69% at 11.5p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RENX Market Data

Currency UK Pounds
Share Price 8.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 52.50
52 Week Low 8.00
Volume 0
Shares Issued 165.93m
Market Cap £13.27m
Beta 0.02
RiskGrade 348

RENX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.58% above the market average17.58% above the market average17.58% above the market average17.58% above the market average17.58% above the market average
48.57% above the sector average48.57% above the sector average48.57% above the sector average48.57% above the sector average48.57% above the sector average
Price Trend
93.67% below the market average93.67% below the market average93.67% below the market average93.67% below the market average93.67% below the market average
94.59% below the sector average94.59% below the sector average94.59% below the sector average94.59% below the sector average94.59% below the sector average
Income Not Available
Growth
34.09% below the market average34.09% below the market average34.09% below the market average34.09% below the market average34.09% below the market average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average

RENX Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

RENX Key Personnel

CEO James Renwick McCullough

Top of Page