REG - Renalytix PLC - Trading Update

RenalytixAnnouncement

27/01/2025 07:00

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RNS Number : 6873U  Renalytix PLC  27 January 2025

Renalytix plc

("Renalytix" or the "Company")

 

Trading Update

 

LONDON and NEW YORK, 27 January 2025 - Renalytix plc (LSE: RENX) (OTCQB:
RNLXY), which is commercialising kidneyintelX.dkd, the only FDA-approved and
Medicare reimbursed prognostic test to support early-stage risk assessment for
chronic kidney disease, provides an unaudited trading update for the six
months ended 31 December 2024 ("H1 FY25") and confirmation that the Company
remains on track to deliver against revenue and expense targets for the year
ended June 2025.

 

The Company expects to report revenues for H1 FY25 of $1.3m relating to
commercial sales of kidneyintelX.dkd.  The Company remains on track to
deliver against financial expectations for FY25 and FY26, which assume an
average of 20% quarterly revenue testing volume growth.

 

The number of tests received from the Company's direct-to-doctor channel
continued to rise significantly during the period, with the number of doctors
ordering kidneyintelX.dkd totalling 142 at the end of H1 FY25. Sales
representative productivity continued to improve with the number of average
tests ordered per month per sales representative tripling over the last year
reaching 24 in December 2024 (December 2023: 8).

 

The onboarding of a large New York-based primary care network in September has
supported growth in H1 FY25 and provides confidence that this growth will
continue in the second half. As confirmed in the Company's AGM statement, the
Company expects further new adopters to come on board in 2025.

 

The Company is well financed following the successful £11.8m funding in
November of 2024.

 

Renalytix expects to announce its unaudited results for H1 2025 in March 2025.

 

For further information, please contact:

 

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

 Stifel (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

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

 

 

About Renalytix (www.renalytix.com (http://www.renalytix.com) )

Renalytix (LSE: RENX) (OTCQB: RNLXY) is an artificial intelligence-enabled in
vitro diagnostics company, focused on optimizing clinical management of kidney
disease to drive improved patient outcomes. Renalytix has received FDA
approval and Medicare reimbursement for kidneyintelX.dkd which is now offered
commercially in the United States.

 

Unrecognized and uncontrolled kidney disease remains one of the largest
barriers to controlling cost and suffering in the United States and the United
Kingdom's medical system, affecting over 14 million and 8 million people,
respectively. After five years of development and clinical validation,
kidneyintelX.dkd is the only FDA-approved and Medicare reimbursed prognostic
tool capable of understanding a patient's risk with kidney disease early where
treatment has maximal effect. kidneyintelX.dkd is now being deployed across
large physician group practices and health systems in select regions of the
United States.

 

The over 10,000 patients that have been tested by kidneyintelX.dkd have
produced a substantial body of real-world performance data. In patient
populations where kidneyintelX.dkd has been deployed, a demonstrated and
significant increase in diagnosis, prognosis, and treatment rates have been
recorded. kidneyintelX.dkd now has full reimbursement established by Medicare,
the largest insurance payer in the United States, at $950 per reportable
result. kidneyintelX.dkd is also recommended for use in the international
chronic kidney disease clinical guidelines (KDIGO).

 

 

 

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