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Renalytix PLC - London-based diagnostics company focused on kidney health - Reports a widened pretax loss of $26.8 million for the six months to December 31, from $16.2 million a year before. Administrative expenses rise by 96% to $27.5 million from $14.0 million, as a result of its ‘continued growth.’ Records multiplied revenue of $1.3 million from $400,000 on growth in testing volumes. Expects test volumes to grow further as it progresses through the remainder of financial 2022.
Receives a $30.0 million financing package, consisting of a $8.8 million equity subscription at $3.625 per ordinary share and a $21.2 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 $26.8 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%
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