REG - Renalytix PLC - Commencement of trading on OTCQB in the US

RenalytixAnnouncement

08/10/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241008:nRSH3346Ha&default-theme=true

RNS Number : 3346H  Renalytix PLC  08 October 2024

 

Renalytix plc

("Renalytix" or the "Company")

 

Commencement of trading on OTCQB in the United States

 

Renalytix plc American Depository Shares (ADSs) begin trading on OTCQB Venture
Market

under symbol "RNLXY" effective from Market Open on October 8, 2024

 

LONDON and NEW YORK, October 8, 2024  ̶  Renalytix plc (LSE: RENX) (OTCQB:
RNLXY), an artificial intelligence-enabled in vitro diagnostics company,
focused on optimizing clinical management of kidney disease to drive improved
patient outcomes and advance value-based care, announces that as previously
disclosed regarding its intention to move listing of its American Depository
Shares ("ADSs") from Nasdaq to the OTC Markets Group Inc., that effective with
the market open today its ADSs are now trading on the OTCQB.

 

The Directors have considered the benefits of the Nasdaq listing against the
cost of maintaining the listing and have decided to downlist the ADSs from
Nasdaq, and apply to have the ADSs quoted on the OTCQB. Accordingly, the
Company has filed Form 25 with the United States SEC on October 7, 2024, and
as a result, the Company's last trading day of its ADSs on Nasdaq was October
7, 2024.

 

James McCullough CEO of Renalytix, said: "With recent steps to improve our
balance sheet through completing a financing round with high-quality
investors, and structuring our business with a tight commercial focus on
growing sales through a lean and efficient market-driven model, we believe we
now have the capital and cost structure to pursue our strategic goals toward
improved profitability.

 

"Moving to the OTC along with our continued shares listing on the London Stock
Exchange significantly decreases our general and administrative costs as a
public company. Along with other actions taken within the business, this
allows us to redirect valuable capital resources towards the commercialization
of kidneyintelX and focus on delivering shareholder value."

 

The OTCQB® Venture Market is a platform operated by the OTC Markets Group
Inc. for entrepreneurial and development stage U.S. and international
companies, and is considered by the Securities and Exchange Commission to be
an "established public market" for determining the public market price when
registering securities for resale.  Companies trading on the OTCQB must be
current in their reporting and undergo an annual verification and management
certification process.  Additional information about the OTC Markets Group
Inc. and the OTCQB can be found at www.otcmarkets.com
(http://www.otcmarkets.com)

 

For further information, please contact:

 

 Renalytix plc                                                           www.renalytix.com (http://www.renalytix.com)
 James McCullough, CEO                                                   Via Walbrook PR

 Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)     Tel: 020 7710 7600
 Nicholas Moore / Nick Harland / Ben Good

 Oberon Capital (Joint Broker)                                           Tel: 020 3179 5300
 Mike Seabrook / Nick Lovering / Jessica Cave

 Walbrook PR Limited                 Tel: 020 7933 8780 or renalytix@walbrookpr.com
                                     (mailto:renalytix@walbrookpr.com)
 Paul McManus / Alice Woodings                                                 Mob: 07980 541 893 / 07407 804 654

 CapComm Partners
 Peter DeNardo                                                           Tel: 415-389-6400 or investors@renalytix.com (mailto:investors@renalytix.com)

About Renalytix plc

Renalytix (LSE: RENX) (OTCQB: RNLXY) is an artificial intelligence enabled
in-vitro diagnostics and laboratory services company that is the global
founder and leader in the field of bioprognosis™ for kidney health. In late
2023, our kidneyintelX.dkd test was recognized as the first and only
FDA-authorized prognostic test to enable early-stage CKD (stages 1-3b) risk
assessment for progressive decline in kidney function in T2D patients. By
understanding how disease will progress, patients and clinicians can take
action earlier to improve outcomes and reduce overall health system costs. For
more information, visit www.renalytix.com
(https://www.globenewswire.com/Tracker?data=g2rinqbAgg-q5Zua64QfEh_ImbC7cxpKB9fMEOz3nEgvr6IRtzAZxj77HJRk18dPdtyNTnCS5wIJ1D5jW3xgasJVSc2vtdKOkE7HOw0-TGX3cjSHd3i_CzFCyLZWUcSKJ8HLs45taXYF90tcW2H5jvJQ66-ptubg5SflXxITasXe8SzRw4G-CC8UkUEiwPPxyMy0tKineVUS68YuLWDU-xoRT_xA0mQEJiSlXcxjS4LOlrRcqdgIF2u9l4n8MGLypRT141E4e4yN-23wvBu55Q==)
.

 

About OTC Markets Group Inc.

OTC Markets Group Inc.
(https://www.otcmarkets.com/stock/OTCM/overview?utm_source=Press+Release&utm_medium=Press+Release&utm_campaign=New+OTCQX+Company)
(OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and
international securities. Our data-driven disclosure standards form the
foundation of our three public markets: OTCQX(®) Best Market, OTCQB(®)
Venture Market and Pink(®) Open Market.

 

Our OTC Link(®) Alternative Trading Systems (ATSs) provide critical market
infrastructure that broker-dealers rely on to facilitate trading.  Our
innovative model offers companies more efficient access to the U.S. financial
markets.

 

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS,
operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member
SIPC.

 

To learn more about how OTC Markets Group Inc. create better informed and more
efficient markets, visit www.otcmarkets.com
(https://www.otcmarkets.com/?utm_source=Press+Release&utm_medium=Press+Release&utm_campaign=New+OTCQX+Company)
.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEVLBBZBLEFBZ