31st Mar 2022 12:14
Renalytix PLC - London-based diagnostics company focused on kidney health - Reports a widened pretax loss of USD26.8 million for the six months to December 31, from USD16.2 million a year before. Administrative expenses rise by 96% to USD27.5 million from USD14.0 million, as a result of its "continued growth." Records multiplied revenue of USD1.3 million from USD400,000 on growth in testing volumes. Expects test volumes to grow further as it progresses through the remainder of financial 2022.
Receives a USD30.0 million financing package, consisting of a USD8.8 million equity subscription at USD3.625 per ordinary share and a USD21.2 million principal amount of convertible bonds with an issue price of 85 per cent of the principal amount. Says the fundraise will generate gross cash proceeds of USD26.8 million. Plans to use the net proceeds for general working capital purposes and to support its expected growth.
Current stock price: 335.00 pence, up 24% on Thursday
12-month change: down 64%
By Abby Amoakuh; [email protected]
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