Renalytix AI (GB:RENX) has released an update.
Renalytix AI has been granted an extension by Nasdaq to continue trading on the Nasdaq Capital Market, following a positive review of their operating and financial plans. The company must demonstrate compliance with Nasdaq’s requirements by October 25, 2024, and is in discussions with stakeholders to support its business plan, which includes reduced costs and a focus on its FDA-approved kidney function test, KidneyIntelX. With a cash runway extending into Q4 2024 and a current cash position of $4.7 million, Renalytix is optimistic about its growth potential in the kidney health diagnostics market.
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