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(Sharecast News) - Precision medicine business Renalytix said on Thursday that Q3 trading was in line with expectations, delivering 20% quarter-on-quarter revenue growth as it reached "the key milestone" of processing over 1,000 billable tests within the quarter for the first time.
Renalytix said the onboarding of a large New York-based primary care network in September 2024 and an improved performance with direct-to-physician sales efforts had supported "continued growth in testing revenues".
Chief executive James McCullough said: "Billable testing volume paid by insurance companies, including Medicare, continues to grow and I am very pleased we have crossed the 1,000 billable testing mark. We remain on track to meet our full-year expectations and expect to expand distribution of kidneyintelX.dkd with initiatives from both new insurance payors, care networks and hospital systems this year."
As of 1135 BST, Renalytix shares were up 13.33% at 8.50p.
Reporting by Iain Gilbert at Sharecast.com
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