Renalytix PLC (AIM:RENX) has announced a $4 million balance sheet improvement, following the conversion of senior convertible bonds into equity. Some 31.6 million new ordinary shares will be issued at 9.5p per share.
Renalytix PLC (AIM:RENX) shares moved up on Thursday thanks to an upbeat trading update, revealing a 20% rise in third-quarter revenue. The company, which specialises in artificial intelligence-enabled in vitro diagnostics, told investors it processed more than 1,000 billable kidneyintelX.dkd tests in the quarter.
| Health Care Technology Industry | Healthcare Sector | James R. McCullough CEO | NASDAQ (NMS) Exchange | 75973T101 CUSIP |
| US Country | 102 Employees | - Last Dividend | - Last Split | 17 Jul 2020 IPO Date |
Renalytix Plc, established in 2018 and headquartered in New York, New York, is at the forefront of developing artificial intelligence-enabled in vitro diagnostic solutions specifically targeting kidney diseases. Through a blend of AI technology, clinical insights, and partnerships, it aims to revolutionize the diagnosis, prognosis, and treatment of kidney diseases. Initially known as Renalytix AI plc, the company transitioned to Renalytix Plc in June 2021 to better reflect its broadened scope and commitment to kidney disease diagnostics. By leveraging strategic partnerships with entities such as Mount Sinai Health System, Joslin Diabetes Center, Inc., Atrium Health, Wake Forest Baptist Health, and Wake Forest School of Medicine, Renalytix Plc is enhancing the kidney health care model through advanced diagnostics and clinical care solutions.
The flagship product of Renalytix Plc, KidneyIntelX, stands as a testament to the innovation in kidney disease diagnostics. This diagnostic platform incorporates an artificial intelligence-enabled algorithm that assimilates diverse data inputs. These inputs include validated blood-based biomarkers, inherited genetics, and personalized patient data from electronic health records. The integration of these varied data points results in the generation of a unique patient risk score. This risk score plays a critical role in the diagnosis and prognosis of kidney disease, guiding clinical care, stratifying patients for drug clinical trials, and discovering new targets for kidney disease treatment. The development and commercialization of KidneyIntelX are empowered by a license agreement with Mount Sinai Health System, facilitating the application of artificial intelligence in the realm of kidney disease diagnosis.