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Buys 3.34% of Renalytix part of the Rothschild family.
Very plausible theory SB. Whether it's them who've bid or not I think it's very likely they will be in the mix once the timetable starts. Which I am guessing, will be after the test is confirmed by the US health insurance authorities. That's a near certainty since the US government and the Veteran's Association have already agreed contracts. The mood music during the consultation also sounded very positive. I will get some more of this stock for my ISA in the new tax year if I'm not too late. Otherwise happy enough.
Interesting Silverblade. The Polar angle does intrigue as they were dumping REDX recently (not to be confused with RENX although REDX are a med related company as well). The weird thing was they were dumping a perfectly good company (albeit not a sexy company whose share price dropped) and yet they pumped loads into RENX.
Why? I think because a sale is happening here and that it will be a reasonable offer. Let's wait and see. GLA
Really useful post MSA - thanks. I have another theory to throw into the mix. Given the pre-existing relationship that exists between RENX and AZN - I do not believe AZN would have made an unsolicited approach for RENX and would not class them as a strategic diagnostics company either. What I think may have happened is an approach was made from the unnamed potential acquirer looking to access the growing CKD market and which was pitched at a level which interested major shareholders or you imagine it would have been dismissed outright. The formal sale process was introduced to allow others - and lets assume in particular AZN - the opportunity to consider making on offer bearing in mind the potential offer from the original acquirer. Also bearing in mind the extended timescales for such activity, and the reality of the existing cash position, a fund raise was carried out to ensure sufficient funding to see this process through to conclusion. The fund raise was well supported by all major shareholders (with the exception of JRC) who would have been aware of the likely level at which the original offer was made - or at least ball park. Sinai and Harwood both put money into the first fund raise closing, with additional monies already committed to the second closing. Other shareholders have updated their holdings via form 8.3 notifications based on the first closing 119m shares now in circulation; with a further 26m shares to be issued as part of the second closing which will require to be approved at the next AGM taking shares in circulation up to c.145m. Sinai, Harwood and RENX directors (McCullough, Sterling, Fleming), acting in concert, hold close to 30% of the issued shares. Other major holders who all took up the fund raise included Polar Capital (13.8m); Penwater (8.5m); Rothschild 5.7m); Lombard (4m) and GGH (1.5m). JRC retain their previous 8.5m holding. I think something in the region of 70% of RENX is now owned by these combined parties. Interesting times...SB
If it is not AZN I wonder what they will do as they enlisted "Renalytix AI to help it develop precision medicine strategies for managing patients with chronic diseases of the cardiovascular system, kidneys and metabolism".
Just thinking aloud!
https://www.fiercebiotech.com/medtech/astrazeneca-taps-renalytixai-for-personalized-kidney-medicine-initiative-at-mount-sinai
Yes, AstraZeneca have been campaigning on this for years. They're partnered with Renalytix on their test and AstraZeneca's ckd treatment. They see this early intervention approach as the way to eliminate acute kidney disease which invariably leads to dialysis unless someone can get a transplant. Thermo Fisher and AstraZeneca dominate the treatment used for chronic kidney disease. I think one of them are likely to be the bidder atm. I guess that's why all the iis are piling in.
Blimey, if it is another company I will eat my hat!
".......urgent need for diagnosis at early-stage kidney disease so patients can receive guideline directed medical treatments.25 At AstraZeneca, we are committed to driving meaningful change for patients with chronic kidney disease by highlighting these gaps in diagnosis and helping to provide HCPs with the tools to proactively screen".
Miroslav Sokolov
Global Commercial Vice President, AstraZeneca
Https://www.astrazeneca.com/media-centre/articles/2023/transforming-kidney-health-burden-ckd.html
Transforming kidney health and the burden of CKD
LAST UPDATED
18 March 2024
ORIGINALLY PUBLISHED:
15 June 2023
843.6 million people worldwide are living with chronic kidney disease (CKD)1, a progressive and potentially fatal condition.2 Yet, the majority remain undiagnosed and untreated.3
At AstraZeneca, we believe we have an important role to play in driving better patient outcomes. We are aiming to help reduce progression to kidney failure by 20% by 2025. Through global collaborative initiatives, informed by our real-world evidence (RWE) programme, our ambition is to support healthcare professionals (HCPs) in prioritising CKD diagnosis and management, ensuring patients understand their risk factors and can address these with their HCPs, and to work with stakeholders in prioritising CKD screening at the policy level.
CKD: a silent disease with devastating consequences for patients
It’s staggering to see that although CKD is expected to become the world’s fifth leading cause of mortality by 20404, up to 90% of people living with CKD don’t know they have it.3
Patients with CKD experience decreased kidney function and if untreated, their CKD could eventually progress to life-threatening kidney failure5 although most patients are more likely to die from cardiovascular causes before getting to this stage.6 Many of these patients will need renal replacement therapy such as dialysis to replace their kidney function7, which significantly affects their quality of life.8
Even before progression, people living with CKD report that their lives and daily activities are impacted by the disease and its complications.9 They can experience significant physical limitations, loss of quality of life, unemployment, emotional and cognitive disorders, social isolation and premature death.10 If a patient’s CKD advances to where they need dialysis, they may experience additional stress from the financial impact and time commitment of dialysis, while feeling like a burden to caregivers.11
CKD does not just impact patients at the individual level, but also society and the environment more broadly. CKD is a leading cause of health expenditure worldwide,12 and its burden weighs heavily on individuals and healthcare systems alike. In high-income countries across the world, 2–3% of the annual healthcare budget is spent on renal replacement therapy.13
Additionally, treatments for CKD, like dialysis, leave a considerable carbon footprint and can cause environmental pollution due to frequent medical interventions, the use of products that generate medical waste, energy to run machines and water consumption.10 Dialysis remains one of the most carbon-intensive fields in medicine, consuming enormous amounts of water and producing high amounts of medical waste.14 In a year, globally dialysis uses more than 169 billion litres of water10 and creates more
Yes an all mighty 7% up followed by 2% down after hours 🙄
Should be good on Monday. Just had great session in the USA.
It is up to the RENX BOD how long it will take so cannot see a name coming out till after a offer has been accepted.
I have no idea if the shareholders will be asked to vote or not.
"The Formal Sale Process will enable the Board and its advisers to conduct an orderly process and engage more widely with all potentially interested parties, with a view to optimising the outcome for Renalytix's shareholders".
I am guessing it might be AZN as the offer was for the whole "entire issued, and to be issued, share capital of the Company", so no messing around, could be because they know the history with such a confident statement.
No mention of DD in the RNS.
https://www.medicaldevice-network.com/news/renalytix-ai-astrazeneca-precision-medicine-strategies/?cf-view
If AZN are the prospective buyers, what are the chances they'll come out into the open before their
first quarter results on 25th April?
Dave
2 76%
Not much atm but every little helps
Danni Hewson, head of financial analysis at AJ Bell, said: ‘Drug companies have learned their lesson from patent cliffs that they cannot rely on blockbuster treatments forever.
‘They need to keep the pipeline stocked up, acting like a conveyer belt so something else comes along just as an existing treatment loses patent protection and earnings fall victim to generic copycats.
‘Medicine is constantly evolving and today’s patient is hyper-aware of the next big development that could make their treatment more successful and less invasive.’
https://www.thisismoney.co.uk/money/markets/article-13215881/AstraZeneca-boss-ramps-buying-spree-Drugs-giant-2bn-bid-Canadian-cancer-specialist.html
Stifle and Investec are brokers. They buy and sell our shares when we ask them to buy and sell. Their trades are irrelevant.
Assuming it was this yesterday, but I could just as well be talking BLX:
19-Mar-24 15:52:47 34.5751 24,678 Sell* 34.00 36.00 8,532
RE: the sell - not sure why they would sell but it seems a tiny amount of money unless I'm mistaken c£8K...?
If it is that figure, that's a drop in the ocean and doesn't matter a hill of beans
If this sp is going up why would Stifel sell at 35?
I'd be really happy with the lowest analyst target, which appears to be 87p.....but I haven't held that long. I'll be VERY happy with £2. I guess it depends on the big shareholders and the company management what gets agreed or not.
It won't be suspended until the bidding process ends. It will take 3 months from the time the company announces offers. Bids can keep coming in throughout the process.
The consultation process ends on Friday. We'll get their recommendations after that. That's why all these iis have bought in substantially. We might get a bit of a bidding scrum from big pharma. The main suppliers for chronic kidney disease drugs at the moment are AstraZeneca and Thermo Fischer. Not to say that others might not want to take this test. It's worth billions potentially in it's own right. 10 million Americans have diabetes 2. Around 89 million people worldwide also have it. At $950.00 a test it's a valuable product. I think it will go for £2.00.
The talk of suspension is related to a takeover offer, not the company going pop. RENX has staved off pop by the recent issue. The company needs to now emphasise its attractiveness and we could see some nice meaty offers come in over the next few months. GLA
Why the company will be suspended if they done successfully placing for 10 millions?
Subtle. 🙄
Does anybody know what will happen to the shares once the company is is suspended? Will all the shareholders still holding RENX shares lose them? Thank you