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PRNewsWire
11 months ago
Renalytix plc Reports Financial Results for First Quarter of Fiscal Year 2025
LONDON and NEW YORK , Nov. 20, 2024 /PRNewswire/ -- 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, reports its financial results for the fiscal quarter of 2025 ended September 30, 2024. First Quarter Fiscal 2025 and recent highlights Continued test ordering momentum at a large New York-based physician group practice, after test ordering and processing commenced in September 2024 Cash burn to be reduced to an approximate run rate of £560,000 (approximately $725,000) or less per month by the end of fiscal year 2025 Financing comprising £11.8m (approximately US$14.9 million after expenses) in commitments completed subsequent to the end of the quarter Company believes that as of November 2024, it now has sufficient cash on the balance sheet to fund current operations Issued first guidance on multi-year revenue generation: c.