secwatch.observer — SEC 8-K summary
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Issuer:     Renalytix plc (RNLXY)
CIK:        0001811115
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0000950170-23-063352
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Renalytix Q1 FY2024 revenue drops 50% YoY to $0.5M; net loss $10.2M; cost cuts underway
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- Revenue $0.5M, down 50% from $1.0M in Q1 FY2023; net loss $10.2M vs $12.0M.
- Cost cutting to reduce payroll >35% and total SG&A >30% YoY; cash $13.9M.
- Testing volumes 1,297 (56% billable); CMS recommended $950/test for kidneyintelX.dkd, decision Dec 2023.
- Howard Doran appointed chief business officer; financing discussions for runway through early 2026.
- Expanded commercial payor coverage: BlueCross BlueShield Texas (7M members), Parkland, PNOA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1811115/000095017023063352/0000950170-23-063352-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1811115/000095017023063352/rnlx-20231114.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-063352

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