Renalytix Share Discussion Threads

[donald pond] 22/6/2021 09:26

Probably right, in terms of market size it dwarfs everything else

[homebrewruss] 22/6/2021 09:23

They are focussed on quality of the rollout as mentioned in the recent results call.
I think this is important and therefore it probably makes sense for them to focus on the US first, as they are.

[donald pond] 22/6/2021 09:13

Surely RENX should be trying to roll out to the NHS? They could likely subcontract a lot of the work to EKF? Perhaps they are but there's real value in being an early mover because once you are in the system you can add extra indications with fewer hurdles to jump

[wan] 22/6/2021 08:33

Very encouraging sector related news -

UK NHS Awards $50.2M to Paige, Others to Evaluate AI-Based Diagnostic Systems
Jun 21, 2021

NEW YORK ─ Paige announced on Monday that the UK NHS Accelerated Access Collaborative has awarded £36 million ($50.2 million) to it, Oxford University, and UK National Health Service (NHS) regional partners to study Paige Prostate prospectively in a cancer laboratory setting.

With the NHS award, called the Phase 4 Artificial Intelligence in Health and Care award, leaders in uropathology at Oxford University Hospitals; Coventry and Warwickshire University Hospitals Trust; and North Bristol Trust will develop adoption guidelines for the Paige Prostate diagnostic system for pathologists and other similar systems, Paige said.

The adoption guidelines will aim to enable rollout of artificial intelligence-based technologies and advanced algorithms across the NHS to help diagnose complex diseases, the company said.

"Now is the time to take technologies from simulated clinical settings to embedding [them] in the routine reporting workflow and measure the impact on patient care," Clare Verrill, associate professor at Oxford University and principal study investigator for the Phase 4 award, said in a statement.

In May, Quest Diagnostics and Paige announced a collaboration to leverage Paige's machine learning expertise related to pathology diagnostic data to discover biomarkers for cancer and other diseases.

Full story -

Investors might recall that Renalytix recently signed a deal with Quest Diagnostics owned ExamOne as part of the strategy to expand access -

We have just signed an agreement with Quest Diagnostics ExamOne, which will now allow any patient to receive an at-home blood draw for their KidneyIntelX assessment in all 50 states. We believe firmly that broad open access to KidneyIntelX early stage risk assessment is key to stemming the kidney disease epidemic and maintaining population kidney health.

This is a logistical issue for as many patients as possible. That’s why we put in the ExamOne, Quest Diagnostics’ ability to take a blood draw from any patient’s home. You can send a phlebotomist out to actually take a blood draw in their home. These are all important things about expanding access. So, we do believe this is scalable. Really our focus right now is building the personnel base to support into such a broad population.

[homebrewruss] 16/6/2021 09:23

Yesterday's call also in audio format here:

[wan] 16/6/2021 08:16

Thanks Homebrewruss.

The US market responded very positively to that conference call, and it is clear to see why!

There is (unfortunately) a very, very large market place waiting for KidneyIntelx to arrive, and for which Kidneyintelx looks set to positively impact patients lives as well as saving healthcare systems millions. Thus, I am sure certain funds will be enthusiastic to 'on-board' the stock accordingly.

[homebrewruss] 15/6/2021 20:16

Transcript of today's call

[homebrewruss] 15/6/2021 19:17

Now up 4% in the US.
Enjoyed the call. They seem to be saying (and doing) all the right things and I also like the quality of questioning from the US institutions that the US listing brings.

[lomax99] 15/6/2021 16:36

All sounds positive, market non-plussed.

[faz] 15/6/2021 16:10

It was an all round very well run and delivered update. I also thought they were holding back; the analysts who asked questions should be able to read between the lines.

[mr roper] 15/6/2021 15:37

Excellent call. This will be a $10bn market cap in 2 years imho.

CEO receiving an increasing amount of inbound interest from health systems.

[wan] 15/6/2021 15:06

Just listened to the excellent and very informative conference call.

My impression is that managements confidence is very high indeed, but a good slug of restraint is also being deployed.

During the call James McCullough discussed that previously he would not allow fixed overheads to build e.g. key hires to drive its commercialization strategy in the United States......until payment was secured or there was a clear line-of-sight on revenues.

Recent news says quite a lot then in this regard -

Renalytix AI PLC Key new hires to drive commercialization strategy
07/06/2021

NEW YORK and SALT LAKE CITY, June 7, 2021 - Renalytix AI plc (LSE: RENX) (NASDAQ: RNLX) announces a series of key hires to drive its commercialization strategy in the United States market in light of the recently announced Federal Government General Service Administration payment contract and additional large healthcare system partnerships. The combined background and experience of the new leadership team is expected to drive adoption of the KidneyIntelX testing and care model implementation in early-stage diabetic kidney disease populations. Renalytix expects to continue expanding its sales, marketing, and implementation teams with expected KidneyIntelX roll-out beginning in the VA Medical Health System in the 2(nd) half of 2021, and as the Company positions for a broader national expansion beginning in fiscal 2022 in line with expectations for a national Medicare insurance coverage determination later this year.

Full release -

From what I can gather, expansion of the team continues!

I am also very optimistic regarding pharma partnerships given the increasing in-bound enquiries being received by Renalytix, and thus the expectation of a growing pharma services revenue line going forwards.

There will be further news updates as we go through the remainder of 2021 e.g. Davita etc.

[mr roper] 15/6/2021 11:58

Walbrook PR
@WalbrookPR
·
28m
'
@nplus1singer
research note following (AIM: #RENX) @Renalytix
Q3 2021 results - a period of strong strategic progress.
"We have left our estimates unchanged at this stage and reiterate our positive stance ahead of these key catalysts with a Buy rating and a 1,306p price target

[wan] 15/6/2021 09:55

Renalytix was spun out to realise its potential, and the managements delivery of strategic milestones post listing exemplifies and indeed justifies that rationale, but only scratches the surface of the potential and indeed what lies ahead!

Turnover will increase during the remainder of calendar 2021 (first half of fiscal 2022), but with a material inflection in revenues being anticipated for calendar 2022.

Fiscal 2022 starts July 1st 2021, so it's worth keeping in mind the following excerpts from today's 3rd Quarter Results-

We continue to expand our business to accommodate multiple revenue pathways from KidneyIntelX testing sales including our recently announced contract with the U.S. General Services Administration, pharma-driven development programs and other strategic partnership initiatives. However, given the early-stage nature of our commercial business and the challenges operating in a COVID-19 restricted environment, we do not expect any material revenue for the 12 months ended June 30, 2021 as we continue to focus on ensuring that all necessary regulatory and commercial building blocks are in place to enable us to scale rapidly.

For fiscal 2022, we expect a material inflection point for revenue growth to occur if KidneyIntelX receives FDA clearance and concurrent opt-in for national Medicare coverage, and an easing of COVID restrictions due to broad population vaccination uptake. We are targeting a blended gross margin across all lines of KidneyIntelX testing of greater than 70% once our commercial program scales in fiscal 2022.

We view fiscal 2022 as a year in which we plan to validate our ability to grow significant market share and revenue from KidneyIntelX testing, and pharmaceutical and other strategic partnerships. In addition, we expect our total addressable market will increase materially with the introduction of subsequent KidneyIntelX versions and potentially expanded indications.

[anne flicker] 15/6/2021 09:01

810m valuation - loss making tiny turnover. No wonder they spun it out.
AI in health is fast becoming mainstream so lets see if they can maintain their first mover advantage.

[wan] 15/6/2021 08:06

Just a quick reminder that later today, Renalytix will host a corresponding conference call and live webcast at 8:30 a.m. (EDT) / 1:30 p.m. (BST) to discuss the results and provide a corporate update.

[mr roper] 15/6/2021 08:02

Looks like they are already rolling out to physicians in mt Sinai at a rapid rate.

Remainder of 2021
Fda approval
Mcit
Up to 3 more partnerships

[wan] 15/6/2021 07:59

Renalytix, scaling for the inevitable and material revenue inflection point!

Based on the commentary and previous delivery on such, over the next 6 months it appears we can expect further milestones and partnerships (including an increase in an already very large addressable market), as scale is built in readiness to deliver.

[pugugly] 15/6/2021 07:41

Still burning cash but lots of dry powder - Some very impressive contracts signed at apparently good margins -
No indication that I can see at a quick gkance when they might become cash flow positive or wheter the growing revenue momentum will enable them to raise further funds - if needed - at a premium to current share price.

[mr roper] 10/6/2021 07:35

Q3 results and corporate update next Tuesday.

[wan] 07/6/2021 09:36

Renalytix has already confirmed plans to expand the indicated use of KidneyIntelX for individuals with general chronic kidney disease, and the following excerpt from the new website perhaps indicates that an even stronger push and expansion in terms of coverage and tests is now actively in-train -

KidneyIntelX. Designed to be scalable. Additional discoveries and developments in novel biomarkers, expanded clinical indications and integrated digital technologies.

Our KidneyIntelX platform is designed to scale across kidney disease conditions beyond diabetic kidney disease. We are evaluating a range of new indications in chronic kidney disease, cardio-renal disease, chronic kidney disease in diverse populations and COVID-related kidney disease. We’re also continuing our next generation work on our current diabetic kidney disease indication while we explore ways to expand access to patients around the world.

Critical to our platform is also the ability to stay at the forefront of cloud based digital health technology, data integration and data analytics, which we’re accomplishing through our newly-established Digital Health Team, various strategic partnerships and our participation in how category regulations should evolve. All of these will enable the most effective data-driven decision making and care delivery across the healthcare system and for each patient.

New indications are on the horizon with our KidneyIntelX platform:

Risk assessment and care insights for Chronic Kidney Disease

Diabetic Kidney Disease and Chronic Kidney Disease monitoring tests, beyond the initial risk assessment


Not to mention that longer term, the real potential to develop solutions for use in other large chronic diseases (which Renalytix has also indicated).

[wan] 07/6/2021 08:48

Edit to above post - (this is based on one test per patient assuming Medicare national price of $950 per reportable test, which I think may prove conservative)

[homebrewruss] 07/6/2021 08:43

Of course but needs a strong team and new hires to grab the opportunity.

[wan] 07/6/2021 08:42

A few million to add billions in sales, is not exactly a bad investment/ratio -

Kidenyintelx 'initial' indicated use in the US is for DKD, approximately 12 million individuals in the United States have diabetic kidney disease (DKD)- TAM ~$12 billion (this is based on one test per patient assuming Medicare national price of $950 per reportable test, which I think may prove conservative)

But unfortunately there are 37 million Americans currently estimated with CKD, and Renalytix has plans to expand the coverage to CKD.

Globally the TAM exceeds 800M patients with existing CKD.