Renalytix plc
("Renalytix" or the "Company")
Confirmation of "Foreign Private Issuer" re-qualification
LONDON and NEW YORK, 17 January 2025 - Renalytix plc (LSE: RENX) (OTCQB: RNLXY), which is commercialising the only FDA-approved and Medicare reimbursed prognostic test to support early-stage risk assessment for chronic kidney disease, confirms that it has re-qualified for Foreign Private Issuer ("FPI") status.
Following the decision to move the listing of the Company's American Depository Shares ("ADSs") from Nasdaq to the OTC Markets Group Inc., the ADSs began trading on OTCQB Venture Market under the symbol "RNLXY" on 8 October 2024. The Company anticipates that transferring trading to OTCQB and the re-acquisition of FPI status will provide associated cost savings of up to £1.9 million p.a.
In addition, following re-qualification as an FPI the Company is no longer required to file periodic reports on a quarterly basis. The Company will continue to update shareholders with period end trading updates and financial results for the six month period ending 31 December and fiscal year ending 30 June.
For further information, please contact:
Renalytix plc | |
James McCullough, CEO | Via Walbrook PR |
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Stifel (Nominated Adviser and Joint Broker) | Tel: 020 7710 7600 |
Nicholas Moore / Nick Harland / Ben Good | |
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Oberon Capital (Joint Broker) | Tel: 020 3179 5300 |
Mike Seabrook / Nick Lovering | |
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Walbrook PR Limited | Tel: 020 7933 8780 or renalytix@walbrookpr.com |
Paul McManus / Alice Woodings | Mob: 07980 541 893 / 07407 804 654 |
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CapComm Partners | |
Peter DeNardo | Tel: 415-389-6400 or investors@renalytix.com |
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).
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