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It's an impressive list. I wonder what price they hoping to get for the business?
In addition to Harwood picking up 4m shares in the placing and Sinai 9.3m; Polar picked up 9.7m and Penwater 4.7m (although they did initially note they had taken 2.6m). Not 100% sure how these shares are split over the 'first close' issue (19m shares) and the total placing of 46.8m shares (which might might explain Penwater's updates). Positive imo - can't imagine Polar and Penwater throwing in further cash without a strong internal case on likely return and challenging Renx on progress. Wonder if Jefferson picked up a slice. SB
*agree to disagree. Damn spellchecker!
They'll get sales when they get nationwide US insurance coverage. I've been in shares before that spike to over £1.5 because they have a breakthrough test but then plummets because they aren't in the system and therefore they don't get sales. This is very obvious. When I have sold and pointed this out I have been much criticised 😄
This is going to be as embedded in the commissioning environment as it can be, once the insurance industry confirms the results of the consultation. Next couple of months is my guess. You can't sell if you haven't been properly signed off. But yeah, demand is massive. We can agree to disease then hey.
Yes, I have been following this company for some time……
….your points about the needs driving the value of the tests are well made…it is just astonishing that the company has had so little commercial success to date…..which is why I and many others are sitting on substantial losses.
There is still significant risk that this company is sold cheaply or no bidder emerges and it folds. Sorry if that conflicts with your view of the prospects.
Buyers will want to take discussions to Sep/Oct as the then average year price will be sooooo much lower (sadly)! The share price dropped considerably last Sep/Oct 2023.
If an offer is not to come for many months we could do with some of those rampers! 😂
Jatw, have you done any reading at all on this stock? It got FDA approval last June.
My expectation is £2.00 for a buy out before the end of the year. They have £12 million now. The test will be worth billions over 5 years. If either AstraZeneca or Thermo Fischer take it they will extend sales of their drug treatments- already making TF $5billion a year. The insurance industry has a vested interest in getting these tests widely adopted by the at risk group. 10 million US citizens with diabetes 2 or chronic kidney disease at early stage. The earlier people are diagnosed the easier it is to prevent acute kidney disease. Acute kidney disease is a killer. Dialysis and kidney replacement costs $35 billion.
Everyone wins if this test is widely adopted. The US tax payer, the US medical insurance industry, the pharma companies and those millions of at risk patients get a life saver. The US economy wins too. People can stay in productive work for longer. Win, win, win,win and finally win. I suppose us pis finally also win.
Cheers SB, and I agree re: reducing short positions.
Actually - Citadel went below 0.5% in Feb - it was Alvar who were most recently at 0.6% and have similarly moved below 0.5%. Apologies - but good to see short position reducing nonetheless. SB
Thanks SB
Citadel appear to have moved below the 0.5% declaring threshold from their previous 0.6% short position. SB
I'm sure that there were two short positions shown here a couple of days ago, now only one.
https://www.lse.co.uk/ShareShortPositions.html?shareprice=RENX&share=Renalytix-Plc
Nudging up now 32 on the ask NT for larger volumes! IMHO DYOR
I did say in an earlier post with this title that we could see something to coincide with international kidney day. This makes the US national insurance coverage even more nailed on. I'm sticking my neck out for a definite now.
Good shout Tricky. The recent issue gives them headroom and also stops being a distressed seller - helps them get bet offers as well as once there business starts to ramp this is going to be a very attractive takeover proposition. I bought at 68 like a numpty but confident that this company will have a share price in excess of that by 3Q this year, these are going in the bottom drawer for now. GLA
Somebody posted this link on the HE1 Chat board on the 13/03/2024, it's a parliament petition to make short selling in the UK illegal.
Please re post on as many chat boards as possible 10,000 signatures required in a six month period, that’s before 13/09/2024.
If you agree follow the link and sign up please
https://petition.parliament.uk/petitions/657294/signatures/new
Good job Joel
Not sure RENX has any capability to engage with regulatory powers outside the US which has been their focus…..and they cant afford to which is where a licensing deal / takeover makes sense if this product is viable, it will have application in most populations, particularly the fatter western populations and the mass populations in China and India where there is still a lot of obesity caused by poor diet rather than over consumption.
I wonder if NHS England, for example, would want to fast track this through specialist commissioning now as they do take into account KIDIGO guidelines?
Fantastic news we are acing it! We went to the danger zone..now we are a top gun flying higher!
Congratulations to all holders it just gets better and better! Just shows you can’t keep a good company with such fantastic IP down and now 12 million in cash coming in too! Put that in your pipes shorters! Now gather up as much stock as you can as this is just the start of great things here not forgetting the offer from top tier BIGPHARMA winging its way to us soon! Win win situation for shareholders all round now! Shorts if you haven’t closed well that’s on you guys the market cannot help you out any further now with cheap stock! IMHO DYOR
Excellent news this!!!!
What is his average price for Harwood 12%?
We will be seeing the same high energy demand as yesterday as US pre-market starts buying up the stock and pushing it higher now within next hour as last few days has been the pattern here! Each day means step closer to offer but we’ve got 12 million now too! Seems ii and pi are both wanting to gather up positions here! IMHO DYOR
If it's any comfort Harwood now have 12% of RENX and their average is much higher than this. Christopher Mills is a bit of a star trader in small caps. Had a few ten baggers hey? Who knows best? Christopher Mills, CEO at Harwood and on RENX's board or Tom, Dick and Harry shorters?
For nationwide health insurance coverage. Then a few weeks potentially for a decision. I think we'll find out who the bidder is as soon as we get the recommendation. Think that's a dead cert. The US government has bought in for all it's services personnel and the US veterans have set up their systems already to link Medicare to the RENX test for their members. The regulatory authority has described the test as necessary for those with diabetes 2 and part of the treatment plan for chronic kidney disease.
These shorters are just taking advantage of the time The Morning Star covered this well on 9th February. Easy enough to dyor these days hey. Holding.