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With some wind in their revenue sales supporting a strong growth outlook, I would think they'll be more likely to be raising at the 2-3p level. That was what they were looking at before the VCT/EIS delays last year and before they were forced into a terrible price by their broker Singer CM.

They just need to show material revenue growth and the valuation will flip overnight, QED.

Not often does one get to pick up shares on the bid side, so someone has been exiting.

I'm happy to add shares at this low level. I think the wind of 'positive revenue growth' is finally blowing in the right direction for Sara and the team.

Let's see if they start to blow the doors off, and they can look to raise further growth capital from a position of strength.

DYOR & GLA.

Can’t disagree with any of that, SB. I think you’re spot on.

Groundhog Day continues at RENX, until something material changes.

Renalytix has again fallen far short of its own narrative, cutting FY26 guidance from roughly USD 8.4–8.5m of revenue to about USD 4m, a halving that underlines the persistent execution and adoption challenges and makes the current 33% year‑on‑year growth rate deeply underwhelming for what was pitched as a high‑growth disruptor. However, the company is still growing from a very low base, has continued to expand EMR integrations and ordering access, and retains a potentially valuable, FDA‑cleared and reimbursed prognostic test in a very large diabetic kidney disease market, such that – while this has been a serial disappointment and now represents a binary‑ish, survival‑dependent option rather than a clean growth story – I remain invested on the basis that any meaningful inflection in utilisation or successful delivery on even a fraction of the longer‑term revenue aspirations (USD 19m in FY27, USD 42m in FY28) could still yield significant upside from today’s levels if the company can fund itself and stay alive long enough to execute.

DYOR & GLA.

So looks like an auto-remove for web addresses. Not sure if this will work, but you need to connect the words "directors," "talks," and "interviews" together to form the address. Oh, and add ".com" after, lol. They'll probs delete this too, lol.

think this interview is well worth the listen, and adds to my view that it's probably wise to have a few verici tucked away in the back book.

https://www.***************************/verici-dx-tutivia-set-to-disrupt-transplant-monitoring-with-real-time-rna-insights-video/4121239049

it's on the *************interviews website.

looks like the company is now very much focused on ramping sales and testing, exactly what we want them to be doing at this stage.

dyor & gla.

I'm inclined to agree, Mikemine. I think Verici are now on a clear path to commercial success and is more likely to surprise positively from here. There are also credible regulatory changes that could give Verici a tailwind, e.g., see this article, where the CMS are driving policy to increase the number of transplants whilst monitoring and looking to reduce the risk of rejection, something Verici is well placed to help with.

https://www.rheumatologyadvisor.com/news/new-federal-plan-aims-to-use-more-donor-organs-improve-transplant-safety/

It would only take one material contract to completely transform Verici's outlook and risk profile, given the low valuation that only seems to be pricing more dilution.

Risk/Reward here looks pretty good to me.

Kainos has been sold down and shorted like every other company in the segment; however, this is likely premature and a bad call, as the company is clearly leveraging AI and integrating it across its businesses.

https://www.ainvest.com/news/kainos-group-strategic-ai-integration-workday-synergy-path-sustained-growth-2509/

I appreciate this article is from Sep-25, but it reads as pertinent today as it did then.

Baby and bathwater spring to mind; the company's results will show more evidence of this over time, and I suspect we'll look back and see this is a good value opportunity.

Tip Top-tastic!

Agree, this is an encouraging update.

Given the limited resources and tightly managed cost base, Verici could well be on the up this year. It should only take a doubling or so of the now current testing volumes to put them on the front foot.

Keep up the good work Sara and team, go forth and ramp Tutivia and PTRA with Thermo.

Hope springs eternal... Ho hum...

Well said, SB.

This is now just a waiting game, as the company has EVERYTHING they need to succeed in going to market; there are no more barriers.

The only question, therefore, is whether they can sell the test into their focus regions and whether there is a market for it.

So far, the jury is out.

QED...

Opinion: Ho hum

@Silverblade - I think you're 100% spot on; this feels like a prerequisite to the next disappointing, empty promises update.

Ho hum.

Good to see Kainos building steadily on its recent recovery.

Happy to be invested here, and think GLG and Mirebella may need to reconsider their short positions.

Share buyback ticking along nicely, too.

Yes, this is not new news.

I'm focussing on the 52% QoQ growth in testing volumes for the last quarter, let's see if they can maintain and improve this.

Well highlighted, UserSteve, the history of "nothing sandwiches" is very important for this company.

Fwiw, assuming the Tempus AI collaboration turns out to be a material revenue event for RENX, I suspect this may have a knock-on effect in reviving their other collaborations and partnerships. Many of the previously announced collabs have significant potential, but they need RENX to be a material going concern for them to become material. Chicken and egg, so to speak.

DYOR & GLA.

Let’s not forget Polar Crapital are probably still sellers to clear their residual position.

Happy to buy a few more here from them, if this is the case.

I agree, this is another vote of confidence in the RENX collaboration with Tempus AI. Suggests the PMs at ABRDN World Healthcare Fund see this as material and likely to be the much sought after game-changer the company needs to succeed.

That was well said, Mikemine. Of course, the BoD will review how the roll-out develops across Tempus's network of signed-up hospitals, and update accordingly. They can and should only provide conservative forecasts at this stage, to allow them to upgrade as test demand develops for KidneyIntelX..

To do the opposite would be dumb and only lead to downgrades, QED.

This is a well-made point, MammaC. Big Pharma already know the size of the market opportunity, as do Tempus AI.

For us, equity investors, we need to see the near-term traction from the collaboration with Tempus AI to see what level of demand this brings to testing volumes. Q225 saw 492 tests, an increase of 70% YoY and 52% QoQ. This was before the collaboration with Tempus. With Tempus, I think it might be conservative to assume they can maintain the QoQ growth rate of 52%, and if we do this, they would be projected to hit break-even in early Q326, so in approx 12 months from now. That would imply quarterly test volumes of between 3500 and 4000, enough to cover their projected quarterly costs.

Given the base point of a lowly 492 tests for Q225, I wouldn't be surprised if the deal with Tempus leads to an outsized growth spike over the coming year, which, if true, would be a total game-changer for RENX.

Just a simple thought for the morning. DYOR and GLA!