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Renalytix ( (GB:RENX) ) has provided an update.
Renalytix has announced an additional institutional subscription agreement with ABRDN World Healthcare Fund for 11 million shares, raising £1.045 million. This funding will support the company’s commercial distribution efforts, including a collaboration with Tempus AI, Inc., and reflects strong institutional support for Renalytix’s growth in the U.S. market.
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 company specializing in kidney disease diagnostics. Their primary product, kidneyintelX.dkd, is an FDA-approved and Medicare-reimbursed prognostic test designed for early-stage risk assessment in chronic kidney disease.
Average Trading Volume: 2,596,146
Technical Sentiment Signal: Hold
Current Market Cap: £33.12M
Find detailed analytics on RENX stock on TipRanks’ Stock Analysis page.