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Renalytix ( (GB:RENX) ) just unveiled an update.
Renalytix has successfully raised approximately £7.05 million through an oversubscribed fundraise, which included a WRAP Retail Offer, Placing, and Subscription. This capital injection is expected to bolster the company’s commercial growth and expand access to its kidneyintelX.dkd testing in the US market, potentially altering the trajectory of diabetic kidney disease treatment and reducing its societal costs.
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 a precision medicine diagnostics company specializing in kidney disease. Its primary product, kidneyintelX.dkd, is the only FDA-approved and Medicare reimbursed prognostic test designed to support early-stage risk assessment in chronic kidney disease.
Average Trading Volume: 3,009,341
Technical Sentiment Signal: Hold
Current Market Cap: £35.6M
See more insights into RENX stock on TipRanks’ Stock Analysis page.