3rd Mar 2020 11:36
(Alliance News) - Clinical diagnostics company Renalytix AI PLC on Wednesday reported a widened loss on increased expenses during its first half, and added that it could seek an AIM listing for one of its unit.
In the six months to December 31, the company's pretax loss stretched to USD4.4 million from USD2.9 million, despite revenue of USD105,000 against none the year prior.
Administrative expenses were 59% higher year-on-year at USD4.5 million from USD2.9 million.
During the period, the company said it made "regulatory and reimbursement" progress in advancing its KidneyIntelX kidney disease testing product.
In the US, federal and state level regulatory review processes for KidneyIntelX are "on track", the company said.
The company added that it is mulling a potential spin-out and subsequent AIM stock listing for its FractalDx portfolio. The technology was developed to detect acute transplant rejection in patients who have received a kidney transplant.
Shares in the company were 1.9% higher at 317.00 pence each in London on Tuesday morning.
By Eric Cunha; [email protected]
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