(Alliance News) - Renalytix PLC on Tuesday said the US Centers for Medicare & Medicaid services have published the price for kidneyintelX.dkd test.
Renalytix shares jumped 17% to 73.25 pence each on Tuesday morning in London.
The London-based kidney health-focused diagnostics company said its test, which has been authorised by the US Food & Drug Administration, was priced at USD950 on the nationwide clinical laboratory free schedule.
It noted that the pricing will come into effect in January next year, following finalisation in the fourth quarter, and will be maintained for at least three years.
The company said the pricing "affirms the value of the KidneyIntelX testing platform", and is a strong pricing basis for international distribution deals.
The pricing review is part of a recommendation from the American Medical Association that the kidneyintelX.dkd test should be assigned a new code to differentiate it from the original laboratory developed test, KidneyIntelX.
By Harvey Dorset, Alliance News reporter
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Renalytix Plc (RENX)