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Renalytix ( (GB:RENX) ) has provided an update.
Renalytix has announced a proposed fundraise to secure a minimum of £4.0 million through a placing and subscription of new ordinary shares, with a separate retail offer to raise additional funds. The proceeds will support its collaboration with Tempus AI, Inc., aimed at integrating its kidneyintelX.dkd test into Tempus’ portfolio for chronic kidney disease, enhancing availability for patients with type 2 diabetes and chronic kidney disease in the US. This strategic move is expected to bolster Renalytix’s market positioning and operational capabilities.
Spark’s Take on GB:RENX Stock
According to Spark, TipRanks’ AI Analyst, GB:RENX is a Underperform.
Renalytix’s overall stock score is low due to severe financial challenges, including declining revenues, high operating losses, and solvency issues. Despite positive corporate events suggesting strategic interest and growth potential, the technical analysis and valuation remain weak, impacting the stock’s appeal.
To see Spark’s full report on GB:RENX stock, click here.
More about Renalytix
Renalytix is an artificial intelligence-enabled in vitro diagnostics company focused on optimizing clinical management of kidney disease to improve patient outcomes. It has received FDA approval and Medicare reimbursement for its kidneyintelX.dkd test, which is commercially available in the United States.
Average Trading Volume: 2,168,426
Technical Sentiment Signal: Hold
Current Market Cap: £35.6M
Learn more about RENX stock on TipRanks’ Stock Analysis page.