Shares in Renalytix PLC (AIM:RENX, OTC:RNLXY, FRA:2O9) jumped 19% to 5p on Tuesday as trading resumed following a fundraise that pulled in £10.5 million for the AIM-listed diagnostics firm.
The company had paused trading in its shares at the start of September while it lined up new investment, including a placing with institutional backers and an offer allowing existing retail shareholders to buy in too.
That retail offer raised just over £380,000, on top of the roughly £10.1 million already secured from bigger investors.
Not all of the money is in the bag yet. Around £3.9 million still needs the green light from shareholders at a meeting later this month. If approved, a further batch of new shares will be issued and start trading on 29 September.
Renalytix develops diagnostic tests, including kidney disease screening technology.
The money will fund a US rollout of the company's kidney test, kidneyintelX.dkd, through a national healthcare network reaching roughly half of American physicians and hospitals.
Under a deal signed on 1 September, doctors will be able to order the test directly through their existing systems, with patients using the partner's network of clinics for blood draws.
The company is targeting 25,000 tests in 2027, with orders expected to open in the first quarter of that year.
