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I’m not sure if those predictions are worthy.
Looks like they only consider the technicals, but don’t that the company may out of money next months, April, May, or so.
And the rumours about a sale is also not considered, and caused just a little flash in the pan on Monday.
So it could go to 5 or zero next time.
IMHO
Unsolicited Approach from Possible Strategic Acquiror, Launch of Formal Sale Process, and Update on Financing
Renalytix plc (NASDAQ: RNLX) (LSE: RENX), an artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney
disease to drive improved patient outcomes and advance value-based care provides the following update in regard to an unsolicited approach from a possible
strategic acquiror, launch of a Formal Sale Process, and its advanced financing activities.
Formal Sale Process
Renalytix has received an unsolicited approach from a large and well-capitalised publicly listed strategic diagnostics company, which is in the process of
evaluating an acquisition of the entire issued, and to be issued, share capital of the Company.
Therefore, the Company has commenced a review of all available options, including a possible sale of the Company and/or its assets, and has commenced a
formal sale process (as referred to in Note 2 on Rule 2.6 of the City Code on Takeovers and Mergers) (the “Formal Sale Process”). The Formal Sale Process will
enable the Board and its advisers to conduct an orderly process and engage more widely with all potentially interested parties, with a view to optimising the
outcome for Renalytix’s shareholders. It remains possible that, following completion of the Formal Sale Process, the Board will consider that Renalytix and its
shareholders would be best served by alternative strategic options available to the Company, including by Renalytix continuing to trade on AIM and Nasdaq as
an independent entity.
The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Takeover Code such that any interested party
participating in the Formal Sale Process will not be required to be publicly identified as a result of this announcement and will not be subject to the 28 day
deadline referred to in Rule 2.6(a) of the Takeover Code for so long as it is participating in the Formal Sale Process.
The Board is working with and intends to appoint Stifel Nicolaus Europe Limited (“Stifel”) as Sole Financial Adviser and Rule 3 Adviser with respect to the
Formal Sale Process and any offer for the Company that may be forthcoming.
Parties interested in submitting any expression of interest or other proposal relating to any strategic option for the Company, should contact Stifel via the
contact details given below.
It is currently expected that any party interested in submitting any form of proposal for consideration within the Formal Sale Process will, at the appropriate
time, be required to enter into a non-disclosure agreement and standstill arrangement with the Company on terms satisfactory to the Board and on the same
terms, in all material respects, as other interested parties before being permitted to participate in the process. The Company then intends to provide such
interested parties with certain information on its business, following which interested parties shall be invited to submit their proposals to Stifel. The Company
will update the market in due course regarding timings for the Formal Sale Process. The Board reserves the right to alter any aspect of the process as outlined
above or to terminate the process at any time and in such cases will make an announcement
as appropriate. The Board also reserves the right to reject any approach or terminate discussions with any interested party at any time.
Shareholders are advised that this announcement does not represent a firm intention by any party to make an offer under Rule 2.7 of the Takeover Code and
there can be no certainty that any offers will be made as a result of the Formal Sale Process, that any sale, strategic investment or other transaction will be
concluded, nor as to the terms on which any offer, strategic investment or other transaction may be made.
Following this announcement, the Company is now considered to be in an Offer Period as defined in the Takeover Code, and the dealing disclosure
requirements set out below will apply.
Further announcements will be made in due course.
Financing Discussions
As part of a review of funding options currently being explored, the directors of Renalytix (the “Board”) are considering possible sources of funding, including
equity and debt. The Company is in advanced discussions with certain existing shareholders as well as potential new equity and debt providers.
The Company has cash on hand of $2.3 million and marketable securities of approximately $1.4 million as at 3 March 2024. As reported on February 15, 2024,
operating cost reductions commenced during the fiscal second quarter continued with a fiscal third quarter cash burn target approximately 33% less than in
the prior quarter and approximately 50% less than in the first quarter of fiscal 2024. The Company expects existing cash resources to finance the business
through April 2024, foregoing the possible Sale of the Company and/or its assets, or successful completion of the advanced financing activities noted above.
For further information, please contact:
Renalytix plc
James McCullough, CEO
www.renalytix.com
Via Walbrook PR
Stifel (Nomad and Joint Broker to Renalytix)
Nicholas Moore / Nick Harland / Samira Essebiyea
Tel: 020 7710 7600
Investec Bank plc (Joint Broker)
Gary Clarence / Shalin Bhamra
Tel: 020 7597 4000
Walbrook PR Limited
Paul McManus / Alice Woodings / Charlotte Edgar
Tel: 020 7933 8780 or renalytix@walbrookpr.com
Mob: 07980 541893 / 07407 804654 / 07884 664686
CapComm Partners
Peter DeNardo
Tel: 415-389-6400 or investors@renalytix.com
RLNX....................................................https://stockcharts.com/h-sc/ui?s=RNLX&p=W&b=5&g=0&id=p86431144783
Great time to be invested in rnlx, great meds and revenue.So many people struggle with diabetes.
Great time to be invested in rnlx, great meds and revenue.So many people struggle with diabetes.
Great time to be invested in rnlx, great meds and revenue.So many people struggle with diabetes.
Shareholder Mfon of Nigeria shared this with me...
Centers for Medicare & Medicaid Services (CMS) has released a draft local coverage determination for KidneyIntelX and KidneyIntelX.dkd, marking a significant milestone for Renalytix PLC (NASDAQ:RNLX.
If the draft is approved, it will establish coverage for its diagnostic platform, KidneyIntelX, and its testing service, KidneyIntelX.dkd.
Buy candidate
https://stockinvest.us/stock/RNLX
Short Interest
Short Interest Table
Percentage of Shares Outstanding 1.20
Number of Shares Short 601.79K
Number of Shares - Previous Month 273.98K
Short Interest Ratio (Days) 4.09
Short Interest Ratio - 1 Month Ago (Days)
https://www.cms.gov/medicare-coverage-database/attachments/lcd/39725_2/NGS_RenalytixLCDRequestCoverLetter.pdf
At the moment, speculative, but there may be some serious value here.
Well well well seems my .39s were not such a bad bet after all on huge volume
Hummmm seems I got it too high here. Actual value is 17 cents Hope it doesn't fall that far.
The gambler in me bought some small starter positions in different accounts. I will buy on further drops.
Renalytix PLC NASDAQ: RNLX
GoSymbol lookup
Health Care : Health Care Technology | Small Cap Growth | Based in United KingdomCompany profile
Renalytix plc is an artificial intelligence-enabled in vitro diagnostics company. The Company is focused on optimizing clinical management of kidney disease to drive improved patient outcomes and advance value-based care. Its diagnostic platform, KidneyIntelX, is designed to scale across kidney disease conditions beyond diabetic kidney disease. KidneyIntelX is a bioprognostic methodology. The Company is evaluating a range of new indications in chronic kidney disease, cardio-renal disease, chronic kidney disease in diverse populations, and coronavirus disease (COVID)-related kidney disease. KidneyIntelX platform facilitates the identification and promotes the effective management of patients at risk of early-stage diabetic kidney disease (DKD), progression by combining diverse data inputs, including validated blood-based biomarkers, inherited genetics, and personalized patient data from electronic health record (HER) using a proprietary algorithm to generate a unique patient risk score.
This security is an American depositary receipt
ADR Fees
Because I bought when it was at $12. Double is good for me.
Good luck
With all these new variants, the digital readout tests become even more crucial.
Data is a gold mine.
Paying close attention to numbers 3, 6, and 8
Executive orders
1. Directing agencies to address vaccine and PPE supply shortfalls using all authorities including DPA;
2. Directing OSHA to publish worker safety guidelines;
3. Establishing a coronavirus testing board;
4. Directing government scientists to identify new treatments for COVID-19;
5. Directing HHS and CDC to provide clear guidance on safe school reopening;
6. Directing agencies to expand data collection and reporting capacity;
7. Establishing a health equity taskforce that focuses on racial/geographic health disparities; Dr. Marcella Nunez-Smith will be chair;
8. Enhancing the collection, sharing and analysis of covid data including metrics by race and ethnicity;
9. Require mask wearing on plane, trains and other forms of public transportation;
10. Bolster clinical care facilities and long term care facilities.
https://www.cbsnews.com/news/biden-national-covid-strategy-executive-orders/
Hope some testing news comes soon. Executive orders being signed on covid. I believe the Kantaro test is not only game changing, but will be very significant with regards to the data that will be gathered and studied.
Wouldn't surprise me if Renalytix gets a government contract with HHS / NIH.
Stay tuned!
Last couple days have been pretty good for the stock. Any reason other than the renal/medicare, Covid antibody and JP Morgan presentation? Stock is up again at the opening today. Thanks
No word, but I'm hoping they get some government contracts and/or contract with a vaccine maker.
Tomorrow they are presenting at the JP Morgan health conference, hoping they'll release some updated info.
thanx... I bought the stock when I read about the COVID antibody test kit. Any update on the EUA?
With a low volume, undiscovered stock you'll see fluctuations like that. As for stock dropping in the premarket, nothing more than a market maker shaking the tree.
RNLX headed in the right direction. New partnership with Davita (S&P 500 company). JP Morgan Health Conference presenter on the 13th. And they still have the game changing antibody test kit with FDA EUA, and Europe CE mark.
Good luck.
So--what's with the wild fluctuations in the stock price? Also--today I am seeing Pre-market activity in the stock for the first time--down $1.10 after being way up last week..
Someone still tested positive, even after getting the vaccine...
https://www.yahoo.com/news/california-nurse-tests-positive-over-082154265.html
...Maybe Pifzer needs to partner with RNLX to get actual results after their vaccine is administered.
Once the vaccines hit the market in a week or so, these test will be very significant as they will read how well vaccines are working.
https://www.cnbc.com/2020/11/25/fda-clears-a-new-generation-of-covid-antibody-test-designed-to-tell-how-well-someone-is-protected-against-the-virus.html
RNLX could see a 50% pop once Pfizer and Moderna release their vaccines, and future pops when stimulus money for testing is passed, and Joe Biden is sworn in.
You can thank me later for finding this sleeper. LOL
RNLX is the sleeper Covid testing kit company. They have the first and only antibody testing kit with digital readouts, meaning they go beyond the simple "positive" or "negative" results, but gives an accurate reading of antibodies.
Think of their kits as the new thermometer. Their kits were just given EUA by the FDA. And they've received their CE mark in Europe last month.
This is a sleeper stock, hence this is the first post. Good luck!!!
https://finance.yahoo.com/news/kantaro-receives-fda-emergency-authorization-123000381.html
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