IN BRIEF: Renalytix loss narrows as costs down amid fewer employees
Renalytix PLC - London-based diagnostics company - Pretax loss narrows to USD21.8 million in the financial year ended June 30, from USD45.5 million a year prior. Revenue climbs 30% to USD3.0 million from USD2.3 million, with the company citing revenue growth across all revenue streams, as well as additional integration with a large physician practice in New York and increased pharma services revenue from global pharma leaders. Administrative costs reduce by 40% to USD18.4 million from USD30.7 million. This was "driven by headcount and operations optimization, delisting from NASDAQ, and the regaining foreign private issuer status. While reorganisation and delisting costs were higher than anticipated, the resulting reduction has provided a lower, predictable cash burn profile." Looking ahead, Renalytix says it continued to strengthen its presence in its initial three target states of Florida, Texas and New York. The company expects to announce additional complimentary strategic agreements in the current financial year running til the end of June 2026. Read More