Renalytix Share Discussion Threads

[74tom] 12/7/2020 14:30

Nice to see Julian highlighting the potential, I’d like to think we could move quite quickly with international expansion - certainly to the UK & Europe.

I found an interesting analysis on RENX published a couple of weeks back;



The below is the crux,

“As we talked about in our recent articles on ArcherDx and Invitae, we don’t like to invest in companies that have no traction in the form of revenues. That’s opposed to the “skate-to-where-the-puck-will-be” types who argue that investors need to anticipate which companies are on the path to revenue growth greatness, something that’s difficult because you need to trust management to deliver on their promises. When there are only promises of revenues, we want to know who is making those promises. If they happen to have failed miserably in prior ventures, we pass on that grass. In the case of Renalytix, the management team looks like they can deliver.“

“Leading the charge at Renalytix is co-founder and CEO, James McCullough, who was co-founder and CEO at Exosome Diagnostics, a venture capital-backed firm which was acquired in 2018 for $575 million. That company was working on a urine-based test called ExoDx Prostate which is used to help clinicians determine whether a patient needs a prostate biopsy. Mr. McCullough also co-founded Page.ai, a startup we featured in our piece on “7 AI Cancer Diagnostics Startups Digitizing Healthcare,” and he also sits on the board of LungLife AI. He probably has many other accomplishments too, but we’re starting to get a bit depressed about how little we’ve accomplished in our own lives, so let’s move on. The key takeaway here is that this man has a track record of success that makes the promises of future revenues much more credible.“

[the stigologist] 11/7/2020 12:22

Very interesting readacross for PYC



10th July 2020
Life sciences sector can have bigger impact on Welsh economy says EKF Diagnostics boss

Mr Baines said that EKF spinout company Renalytix AI, although most of is focus is in the US, could also play more of a role in Wales.

“So the whole world is sitting up and paying attention to diagnostics all of a sudden. If you can identify, using Renalytix’s technology, one patient who is going to crash into to kidney dialysis, that is not only saving a £100,000 a year it is also saving a patient from being in a chronic position with a shortened life span.

“I think [diagnostics] is going to be one of the premier life sciences businesses going forward globally, and I think everyone is waking up to that.”

Full story -

[wan] 11/7/2020 07:11

Renalytix gets a few mentions in this recent EKF article (KidneyIntelX coming to the UK?)-

10th July 2020
Life sciences sector can have bigger impact on Welsh economy says EKF Diagnostics boss

Mr Baines said that EKF spinout company Renalytix AI, although most of is focus is in the US, could also play more of a role in Wales.

“So the whole world is sitting up and paying attention to diagnostics all of a sudden. If you can identify, using Renalytix’s technology, one patient who is going to crash into to kidney dialysis, that is not only saving a £100,000 a year it is also saving a patient from being in a chronic position with a shortened life span.

“I think [diagnostics] is going to be one of the premier life sciences businesses going forward globally, and I think everyone is waking up to that.”

Full story -

[the stigologist] 10/7/2020 22:46

List of Top 40 Global Pharmas by Sales

Physiomics PYC already have some of these as Customers/prior Customers including BOTH Mercks !!!

No.4 Merck USA (MSD)
No.25 Merck Germany (Merck KGaA)

[faz] 10/7/2020 17:17

I filtered Stig... a while ago for obvious reasons. THanks for the link Don

[mr roper] 10/7/2020 15:33

Nice to see the wheels in motion.

[donald pond] 10/7/2020 14:41

Here's the US prospectus, date blanked out unfortunately

[74tom] 10/7/2020 10:21

Sure... I’ll stick with RENX thanks, not sure why you’ve wasted your time trying to cross ramp PYC - everyone knows it’s a dog.

[the stigologist] 10/7/2020 10:12

Interesting to note that Renalytix AI (RENX) is a very good analogue for Physiomics (PYC) investors

RENX founded in 2018
Zero revenues
Big losses
Academic + Health network partners

Mkt Cap : £300m+



Physiomics have been developing their Cancer Precision Dosing App in association with Oxford Academic Health Science Network and with significant Government funding

The next step I suspect will be similar to what EKF Diagnostics did with Renalytix AI in 2018/2019

Separate it out as a Company in its own right
Get serious funding and partnerships
Drive it through Regulatory processes and get it on the market as a Commercial app
Physiomics have already said they are in discussions with 'established players in the field'

At a Market Cap of just £6m Physiomics has huge upside potential IMO

[the stigologist] 10/7/2020 10:12

Interesting to note that Renalytix AI (RENX) is a very good analogue for Physiomics (PYC) investors

RENX founded in 2018
Zero revenues
Big losses
Academic + Health network partners

Mkt Cap : £300m+



Physiomics have been developing their Cancer Precision Dosing App in association with Oxford Academic Health Science Network and with significant Government funding

The next step I suspect will be similar to what EKF Diagnostics did with Renalytix AI in 2018/2019

Separate it out as a Company in its own right
Get serious funding and partnerships
Drive it through Regulatory processes and get it on the market as a Commercial app
Physiomics have already said they are in discussions with 'established players in the field'

At a Market Cap of just £6m Physiomics has huge upside potential IMO

[74tom] 09/7/2020 18:05

Ha, providing the IPO goes ahead the shares will be liquid and can be sold after 1 year.

Personally, I think they’re worth holding on to; a US company called CareDX with whom VericiDX will be competing recently raised $134m at a valuation of $1.2b, it’s still loss making yet today trades at $1.6b market cap / 10 x revenues (thanks to @Wan for sharing this).

So the potential is good and I don’t think they will struggle for II interest...

At a £45m valuation and 59.4m shares in issue it would equate to a 75p a share dividend - a 13% yield based on today’s closing price, although could be much smaller by the time the lock up ends...

Agree that it’s a side show to the main event though - KidneyIntelX is genuinely exciting!

[pugugly] 09/7/2020 16:19

74tom - Makes sense - only downside being that as over 60 years old - if I passed on due to Covid might cost my estate more in administration costs than shares were worth = Lawyers tend to charge and arm and a leg to do anything!!

Thanks also for cost attribution beakdown -

[mr roper] 09/7/2020 15:33

Just added a few more. July should be a busy month..

[74tom] 09/7/2020 12:38

Re. Distribution of shares in Verici, it seems logical to grant shares in the new entity on a 1-1 basis. The book value of Verici is $2m, so they’ve minimised the ex dividend in specie impact on the RENX share price (it’ll be about 2.7p), IMO better to do it this way than the way EKF split off RENX, which resulted in a 30% ex div in specie markdown.

My opinion is that they’ll look to raise around £20m when they IPO, and the pre cash valuation will likely be similar to the RENX IPO (£45m). They simply wouldn’t bother with the spin off process to list for much less than this. However, even a much lower pre IPO valuation of £20-25m would still result in a very nice paper profit vs the current book valuation...

So based on the above assumptions, I’m happy with the 1 year lock in - it’s worth it to be get in at the very bottom.

What are your thoughts?

[longshanks] 09/7/2020 12:37

Hi Pug.Main events are KidneyIntelX and the forthcoming NDQ listing.The spinoff business is rather a side show for me. Will most likely sell any shares to buy more RENX when the time comes.

[pugugly] 09/7/2020 11:53

May have missed it, but what are peoples thoughts on the distrbution of shares in Verci and the lock-in periods -

[wan] 08/7/2020 11:43

Yes, which I confirm is exactly what happened when EKF Diagnostics spun-off Renalytix, with the resulting Renalytix shares showing in my ISA alongside my EKF holding.

[harleymaxwell] 08/7/2020 11:14

are you entitled within an isa?

[74tom] 08/7/2020 09:33

Yes, that’s what it says...

[cambridgedon] 08/7/2020 09:26

If I buy today will I be on the register on the 9th??
CD

[2theduke] 08/7/2020 08:50

thanks - website and company info really isn't very well presented or sizeable, which is a bit at odds with the quality of information that has been flowing.

[longshanks] 08/7/2020 08:47

All ducks aligning well.I see a compelling value proposition for using KidneyIntelX with all CKD patients as it helps prioritise which patients actually need the most expensive treatments available.Insurers will love it.

[wan] 08/7/2020 08:25

The Partnership Agreement is indeed excellent news, and further demonstrating managements track record to date of consistently executing on their strategy.

Worth a look -
America’s Choice Provider Network