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RENALYTIXAI Renalytix Reports Financial Results for Third Quarter of Fiscal Year 2021 June 15 , 2021 NEW YORK , June 15 , 2021 ( GLOBE NEWSWIRE ) -- Renalytix Al plc ( LSE : RENX ) ( NASDAQ : RNLX ) ( " Renalytix " or the " Company " ) today reported financial results for the quarter and nine months ended March 31 , 2021 . Recent Highlights • Partnership announced with University of Utah health system to improve kidney health and reduce the risk of kidney failure for large - scale populations in the earliest stages of kidney disease . KidneyIntelX to be integrated with the university electronic health records ( EHR ) system , enabling access to more than 1,700 clinicians . • 10 year , government - wide contract granted by the U.S. General Services Administration for KidneyIntelX testing services at $ 950 per reportable result ; applies to more than 140 U.S. government departments , agencies , and affiliates including U.S. Veterans Administration ( VA ) , Department of Defense ( DoD ) military branches ( Army , Navy , Air Force , and Marines ) , and Indian Health Services ( IHS ) • Data presented at World Congress of Nephrology showing KidneyIntelX accurately predicted progression of diabetic kidney disease ( DKD ) in a multinational cohort from the CANagliflozin Cardio VAScular Assessment Study ( CANVAS ) with early - stage DKD ( stages 1-3 ) . • Exclusive option to license novel biomarkers with Joslin Diabetes Center which could provide additional clinical utility for understanding early disease progression , risk of kidney failure , therapeutic response , and the mechanistic pathways of kidney disease beyond the markers that are currently captured by KidneyIntelX . • Peer - reviewed data publication demonstrating KidneyIntelX more accurately predicted progressive kidney function decline and kidney failure in a multi - center , diverse cohort of 1,146 type 2 diabetes patients with early - stage ( stages 1 , 2 , and 3 ) kidney disease versus the current standard of care . • Partnership announced with Atrium Health , Wake Forest Baptist Health and Wake Forest School of Medicine to implement an advanced clinical care model to improve kidney health and reduce kidney disease progression and kidney failure ; KidneyIntelX access to be enabled to primary care physicians , endocrinologists , nephrologists and care teams in 37 hospitals and more than 1,350 care locations across the Carolinas and Georgia . • Expanded leadership team to support U.S. Government contract and new healthcare partnerships for broad scale KidneyIntelX de yment . • KidneyIntelX issued coverage determination by one of New York State's largest not - for - profit health insurance companies with over 1.5 million members . • Agreement with Quest Diagnostics ( ExamOne ) to enable any patient to receive an in - home blood draw in all 50 states for KidneyIntelX risk assessment , as part of expanded access program strategy . Third Quarter 2021 Financial Results During the three months ended March 31 , 2021 the Company recognized $ 0.6 million of services revenue related to work performed for Mount Sinai and $ 0.1 of testing revenue . Cost of revenue for the three months ended March 31 , 2021 was $ 0.2 million . Operating expense for the three months ended March 31 , 2021 was $ 8.1 million compared with $ 2.7 million during the three months ended March 31 , 2020 . Research and development expenses increased by $ 1.7 million from $ 1.4 million for the three months ended March 31 , 2020 to $ 3.1 million for the three months ended March 31 , 2021. The increase in R & D was primarily due to increased headcount , consulting , and professional fees to support the ongoing development of KidneyIntelX as well as research studies focused on long - term effects of COVID - 19 on kidney health . General and administrative expenses increased by $ 4.2 million from $ 1.3 million for the three months ended March 31 , 2020 to $ 5.5 million for the three months ended March 31 , 2021. The increase was primarily due to increased expenses related to public listing compliance , headcount and consulting and professional fees . Net loss attributable to ordinary shareholders was $ 8.8 million for the three months ended March 31 , 2021 , compared to $ 0.7 million for the three months ended March 31 , 2020 . Cash , cash equivalents and short - term investments were $ 70.1 million as of March 31 , 2021 , compared with $ 14.3 million as of June 30 , 2020 . For further information , please contact :