SMAWF - IPO Update: Renalytix AI Proposes IPO Terms
Quick Take
Renalytix AI (RNLX) intends to raise $156 million from the sale of ADSs in an IPO, according to an amended registration statement.
The company provides kidney function diagnostics services.
RNLX has a promising business and market, but I can’t determine whether the IPO presents a reasonable valuation, so I'll pass on the IPO.
Company & Technology
Cardiff, UK-based Renalytix was founded to create an artificial intelligence-based diagnostics system for kidney and potentially other chronic disease conditions.
Management is headed by co-founder and Chief Executive Officer Mr. James McCullough, who was