Renalytix Share Discussion Threads

[mr roper] 03/3/2021 18:53

+19% now, absolutely flying...

Hello...is there anybody out there.....?

[mr roper] 03/3/2021 18:44

$rnlx +12% Stateside. Good volume as well.

[wan] 02/3/2021 17:06

Mr Roper....I agree, and I was especially impressed with regard to their comment that DaVita had looked at everything in the kidney Disease space, and chose Renalytix/KidneyIntelX.

[mr roper] 02/3/2021 16:54

Revenue growth from Sinai expected to increase in June quarter.

Lessons learned from Sinai implementation being utilised in rollout to Utah and will be used for future partners. Mentions importance of data security.

Mentions set up a Utah deal was a lot quicker due to what they had learned from Sinai.

Expecting another 5-7 implementations this year.
Once KidneyIntelX is embedded in to a medical system it makes it very difficult for any competitor down the road to disrupt them.

DaVita - were looking for an early stage diagnostic and only option was KidneyIntelX. No one else on the same level of tool maturity. Will be implementing with DaVita in a similar method to Sinai implementation. Very excited about it.

[mr roper] 02/3/2021 14:26

Had to drop off the call half way but sure sounds like it’s exciting times.

Will have to find a replay.

Sounds like Sinai have committed to $6m of testing in the near term. More to come.

[wan] 02/3/2021 11:29

Without wanting to repeat it again, the final sentence of the Outlook is potentially a very attractive addition, over and above what has been factored in to date.

[mr roper] 02/3/2021 11:03

That’s makes sense to me, wan. Hopefully an analyst asks that on the call @13.30.

[mr roper] 02/3/2021 11:02

Mf, agree. I was working on $60 a test but suspect it could end up being a lot more. Especially if their market grows to 37m patients!

[wan] 02/3/2021 10:32

A blended gross margin across all lines? So perhaps, lower testing volumes =(higher margin via nearer to full price), or high volume testing supplied to perhaps large institutions = (lower price/margin but much higher volumes). Overall equating to a blended margin for KidneyIntelX of over 70%

[donald pond] 02/3/2021 10:07

I wonder whether it is 70% or $950 or 70% of whatever it is sold to the healthcare providers for and they take their share in too before charging $950 for it? In either case it's going to end up being much more than $95 a test though

[mr roper] 02/3/2021 08:10

Anyone got any ideas on how to interpret this?
“We are targeting a blended gross margin across all lines of KidneyIntelX testing of greater than 70% as our commercial program scales in fiscal 2022.”

Is that 70% of $950 a test?

If so I need to update my spreadsheet, I was working on 5-10%.

[wan] 02/3/2021 07:58

Thanks Mr Roper.

I would imagine that a lot of investor eyes also fell on the Outlook Statement -

Current outlook

We view fiscal 2021 as our business launch year and one with the following objectives: 1) increasing visibility to distribution to primary care and specialist clinicians through partnered deployment with at least three health care providers and payors; 2) continuing to generate validating health economics, real-world evidence utility and performance data for submission to peer-reviewed publication; 3) increasing insurance coverage; and 4) establishing sequential quarter revenue growth for the December, March and June reporting periods.

For the six months ending December 31, 2020, we are reporting revenue of $0.4 million and net loss of $16.2 million before tax. Our balance sheet remains strong for all planned growth activities with a cash balance of $74.5 million as of December 31, 2020.

We continue to expand our business to accommodate multiple revenue pathways from KidneyIntelX testing sales, pharma driven development programs and other strategic partnership initiatives including our recently announced partnership with DaVita (NASDAQ DVA). 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 continues 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% as our commercial program scales in fiscal 2022. We look forward to the future with confidence.

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.

[mr roper] 02/3/2021 07:53

Cash position very good and expecting revenue to grow materially from Q3 onwards.

[mr roper] 02/3/2021 07:44

To date, KidneyIntelX has been ordered by and test reports have been delivered to over 25 primary care and specialist physicians in the Mount Sinai network. Concurrently, we performed services for Mount Sinai to support establishing a care navigation function based on early stage DKD risk assessment, including physician and practice education, physician and patient materials, electronic order integration and care navigation deployment. We expect to start recognizing revenue from our work with Mount Sinai in the quarter ending March 31, 2021. We also anticipate expanding clinical testing deployment to additional physicians' practices in the Mount Sinai Health System through the remainder of fiscal 2021.

[mr roper] 02/3/2021 07:42

Some good nuggets in the full report

We are increasingly optimistic about achieving distribution capability under our model of partnering with healthcare networks such as Mount Sinai. In addition to our announced partnership with DaVita Inc. ("DaVita") and University of Utah, we expect to announce additional partnerships during the current fiscal year ending June 30, 2021. We expect to announce five to seven partnerships before the end of calendar 2021. We believe these additional partnerships could materially increase patient and physician access to KidneyIntelX throughout the course of calendar 2021 in advance of broader insurance coverage.

[mr roper] 02/3/2021 07:41

YUp, results look fine to me at first glance. I’d be thinking fda approval could come late q2.

“Due to the large influx of COVID-19 related emergency use authorization ("EUA") requests, the FDA has experienced delays in submission processing timing across the diagnostic industry. February 2021, the FDA sent written notification to us stating that it expected the final review process would return to normal no later than April 15, 2021 and did not expect any further delays in process due to the sustained volume of EUA requests in response to the pandemic. While we will continue to decline forecasting specific timing for potential FDA clearance of KidneyIntelX, we view this notification as a positive step in the right direction.“

[mr roper] 01/3/2021 22:45

Saying that, I could be completely wrong. Fda approval could drop first thing and by end of March the share price will be 2500p.....

[fardistanthills] 01/3/2021 22:06

OK, helpful interpretation, thanks.

[mr roper] 01/3/2021 21:29

Not sure if worth reading to much. Think it overshot to the downside last week and now to the upside v the wider mkt. volume wasn’t out of the ordinary.

Results tomorrow and corporate update. Expecting a loss in the results and hoping for a few nuggets in the update

[mr roper] 27/2/2021 14:16

Great to see Polar Capital taking a stake.

[welshborderer] 27/2/2021 11:41

Last quarter institutional buying and selling:

[mr roper] 24/2/2021 15:44

Agree, price reflects that.
Not expecting much in the way of next weeks results.
More interested in the corporate update.

Side note - would be interested to see if there is any Kantaro revenue being booked.

[sspurt] 24/2/2021 15:38

Not sure today's announcement amounts to much at all. Reading through it no revenue $$$s are mentioned and RENX will actually be providing financial support i.e costs over a five year period. This is an existing relationship with RENX establishing a lab at the University last year so it doesn't seem to have moved the dial on at all as far as I can see.
More interesting is the timing of the announcement, why not wait until the figs next week?

[mr roper] 24/2/2021 07:25

Yup results and corporate update next Tuesday.

[wan] 24/2/2021 07:14

Execution, execution, execution......Renalytix management just keep delivering, and todays news implies there is more to come!

With FDA approval a very real prospect this year, Renalytix looks set to keep hitting milestones.