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:
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Renalytix plc
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www.renalytix.com
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James McCullough, CEO
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Via
Walbrook PR
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Stifel (Nominated Adviser and Joint Broker)
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Tel: 020
7710 7600
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Nicholas Moore / Nick Harland / Ben
Good
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Oberon Capital
(Joint Broker)
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Tel: 020
3179 5300
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Mike Seabrook / Nick Lovering
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Walbrook PR Limited
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Tel: 020
7933 8780 or renalytix@walbrookpr.com
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Paul McManus / Alice Woodings
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Mob: 07980 541 893 /
07407 804 654
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About
Renalytix (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).
